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February 19 2020

Oil production at the Stabroek Block offshore Guyana will see the South American country cashing in on 5 million barrels of oil in 2020 plus 2 percent royalty on all crude produced at the Liza Phase 1 Development.

“I am happy to say that Guyana is entitled to approximately five million barrels of oil in 2020 alone, plus the two per cent royalty, plus withholding taxes, plus the direct and indirect benefits through employment creation and other revenue-generated income. So, this is not a contract that we should take lightly, it is not an occasion that we should take lightly,” Dr. Mark Bynoe, Director of the Department of Energy (DE) said on Tuesday.

After the first cargo was loaded on Suezmax YANNIS P. in late January, IHS Markit Commodities at Sea identified a second shipment in early February coming from the new oil producer via Suezmax EAGLE SAN ANTONIO.

The government is now exporting its first cargo of 1 million barrels on the oil tanker CAP PHILIPPE following the two earlier shipments chartered by ExxonMobil.

The government’s first three cargoes from the block have already been sold to Shell Western Supply and Trading. The DE has also indicated that it will be launching a Request for Proposal (RFP) shortly to recruit a marketing firm, on a term basis, to assist in selling Guyana’s future crude entitlements.

“The sale of the first three cargoes has been concluded on a Dated Brent price basis, which reflects the tradable, spot market value of crude oil,” the DE said on Tuesday.

S&P Global quotes a market source as saying the cargoes to Shell are being traded around minus $1.50/b and minus $2.00/b versus Dated Brent on an FOB basis. Dated Brent refers to physical cargoes of crude oil that have been assigned specific delivery dates.

Reuters reported on Wednesday that Brent crude (LCOc1) was up by 51 cents, or 0.9%, at $58.26 a barrel by 0732 GMT.

The newly produced Liza crude has a quality of 32.1° API gravity and 0.51% sulfur, according to ExxonMobil’s assay library. This light to medium sweet crude is expected to attract the interest of refineries in the US Gulf Coast (USGC), Europe and China.

IHS Markit said as freight rates increase, West African crudes with an API gravity range of 28-36° have decreased in the US by 60% since 2016.

“A continued decrease could occur as USGC refineries look towards Guyana’s crude as a closer alternative,” IHS Markit pointed out.

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Thank comrade Granger and comrade Nagamootoo Guyana people in good tideing and will be better for all. Corruption of PPP not too good for Guyana people. Coalition win 36 March 2.

FM
Amral posted:

Save us all of the jargon. What is the bottom figure that the country will get per barrel. 

And who gets it. How will it be distributed if they get any? We have seen the $18 mil(USD) being hidden until the thieves gat caught. $5 mi(USD) is still missing and tied to Harmon's goady.

FM
skeldon_man posted:
Amral posted:

Save us all of the jargon. What is the bottom figure that the country will get per barrel. 

And who gets it. How will it be distributed if they get any? We have seen the $18 mil(USD) being hidden until the thieves gat caught. $5 mi(USD) is still missing and tied to Harmon's goady.

Yes , they hid it at the Bank of Guyana.

T

The real game of corruption in the energy sector began with the granting of that $18 million bonus. That just the beginning of the real big corruption to follow. Watch out for major theft of Guyana's oil revenues.  

Billy Ram Balgobin
Django posted:
alena06 posted:

Django posting articles he does not understand. 😃

So help out ,tell we how much money Guyana will rake in.

Perhaps, after paying for extraction, shipping, labour, etc., etc., etc., plus amounts owed to the oil company, it could be MINUS $-US-$ 30 a barrel.

FM
Demerara_Guy posted:
Django posted:
alena06 posted:

Django posting articles he does not understand. 😃

So help out ,tell we how much money Guyana will rake in.

Perhaps, after paying for extraction, shipping, labour, etc., etc., etc., plus amounts owed to the oil company, it could be MINUS $-US-$ 30 a barrel.

Actually that's Guyana share of profit oil.

Django
Django posted:
Demerara_Guy posted:
Django posted:
alena06 posted:

Django posting articles he does not understand. 😃

So help out ,tell we how much money Guyana will rake in.

Perhaps, after paying for extraction, shipping, labour, etc., etc., etc., plus amounts owed to the oil company, it could be MINUS $-US-$ 30 a barrel.

Actually that's Guyana share of profit oil.

MINUS $-US-$ 30 a barrel is perhaps a reasonable share of the profit.

FM
Last edited by Former Member

Wan formula like dis wan gun be good too.

Market price $50 barrel minus $40 a barrel Trotty price  minus $10 barrel Exxon  expenses= 0.

 

Guyana better off for SHIT HEADS!!!

Nehru
Last edited by Nehru
Nehru posted:

Wan formula like dis wan gun be good too.

Market price $50 barrel minus $40 a barrel Trotty price  minus $10 barrel Exxon  expenses= 0.

 

Guyana better off for SHIT HEADS!!!

HeHeHe ..is that the depth of your intelligence?   The IMF projects the Guyana economy to be the fastest growing in the world in 2020.  You better than the IMF? 

T

Here is what Dr. Bynoe said:“I am happy to say that Guyana is entitled to approximately five million barrels of oil in 2020 alone, plus the two per cent royalty, plus withholding taxes, plus the direct and indirect benefits through employment creation and other revenue-generated income. So, this is not a contract that we should take lightly, it is not an occasion that we should take lightly.”     This clearly implies that this is what Guyana will get after expenses.  And, this is revenue it didn't have before.  Why not be grateful rather than making up stupid tales of theft and such trash?

T
Demerara_Guy posted:
Django posted:
Demerara_Guy posted:
Django posted:
alena06 posted:

Django posting articles he does not understand. 😃

So help out ,tell we how much money Guyana will rake in.

Perhaps, after paying for extraction, shipping, labour, etc., etc., etc., plus amounts owed to the oil company, it could be MINUS $-US-$ 30 a barrel.

Actually that's Guyana share of profit oil.

MINUS $-US-$ 30 a barrel is perhaps a reasonable share of the profit.

How did you get that number?  What formula did you use?  Nehru's ?

T

PPP comrades are lie lie. Comrade Granger comrade Nagamootoo and all Coalition comrades have best for all Guyana peoples at hart. Comrade Bynoe tell truth. PPP comrade not educated well.

FM
Totaram posted:
Demerara_Guy posted:
Django posted:
Demerara_Guy posted:

Perhaps, after paying for extraction, shipping, labour, etc., etc., etc., plus amounts owed to the oil company, it could be MINUS $-US-$ 30 a barrel.

Actually that's Guyana share of profit oil.

MINUS $-US-$ 30 a barrel is perhaps a reasonable share of the profit.

How did you get that number?  What formula did you use?  Nehru's ?

Comrade Nehru take same formala in Sena go poop 💩 poop 💩 poop 💩 full day long.

FM
Zara posted:

PPP comrades are lie lie.

Comrade Granger comrade Nagamootoo and all Coalition comrades have best for all Guyana peoples at hart.

Comrade Bynoe tell truth. PPP comrade not educated well.

Granger and Nagamootoo have hart ...

Eh-eh Zara, yuh kno wha hart mean ... ???

Here is wan ah dee meanings ..

hart is wan male deer. Look karefully; it is deer .. nat dear nor there.

FM
Zara posted:

Comrade Nehru take same formala in Sena go poop 💩 poop 💩 poop 💩 full day long.

Eh-eh Zara; Nehru go poop 💩 poop 💩 poop 💩 all day pan yuh head.

FM
Last edited by Former Member
Nehru posted:
Totaram posted:
Nehru posted:

Heducation is what LAARA got . Well, Laar too!!!

What's this garbage?  

Wait till yuh feel the heat yuh gun kno what is it

More trash from the big mouth idiot.  This is the mentality at the heart of what is wrong supporters of the current PPP.  Rather than engage in intelligent discussion they resort to name calling and silly trash.  

T

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