Aramco unit wins bid for oil in Guyana

GEORGETOWN (Reuters) – Gianna has landed a unit in GE, an official said on Tuesday Saudi Arabia A bid to buy part of the country’s oil production, and the two parties are likely to enter into a one-year marketing deal.
The South American country last month received bids from 15 companies aimed at marketing its share of light crude produced off the coast by a consortium led by ExxonMobil. Guyana, an emerging oil producer, is entitled to a portion of the oil, but lacks the ability to refine it.
Natural Resources Minister Vikram Bharat told Reuters that although Guyana was initially looking for a partner to market its oil for a year, the government has currently only awarded Aramco Trading the next load, which is scheduled for September 21-22, which will be Fourth government in 2021.
Bharat added that Aramco is likely to get a one-year contract, but that process has not yet been completed. The company made the lowest compatible offers at a commission of $0.025 per barrel.
Guyana and neighboring Suriname have become the world’s newest hotspots for offshore oil exploration. The Exxon-led consortium, which also includes the New York-based China National Offshore Oil Corporation and Hess Corp, has discovered more than nine billion barrels of recoverable resources off the coast of Guyana.
India, the world’s third largest consumer and importer of crude, has sought a long-term supply arrangement with Guyana as part of a diversification of its suppliers away from OPEC countries. But Giana ruled out that possibility last month, deciding instead to go through a competitive bidding process.





These were the details of the news Aramco unit wins bid for oil in Guyana for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Saudi Jamjoom Pharma to invest $52m in Uzbekistan as it eyes Central Asia expansion
NEXT Al Mutlaq Group eyes further collaboration with TRSP

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]