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President Ali announces plans for Guyana to market its own crude
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Kaieteur News
President Ali announces plans for Guyana to market its own crude(Kaieteur News) – Guyana will be working to develop its capability and capacity in crude oil trading, President Irfaan Ali told a roomful of private sector players on Thursday at the inaugural energy breakfast hosted by the Georgetown Chamber of Commerce and Industry (GCCI).
We must be able to trade our crude oil from Guyana, with the infrastructure, with the human capital, and with the market skills and that is going to create enormous opportunities for us,” President Ali said.
Since then, the country has engaged agents to market its share of profit oil received from the operator, ExxonMobil Guyana Limited.
The country’s daily production capacity has increased to 900,000 barrels daily with the recent startup of the fourth project, Yellowtail.
It was reported that United Kingdom (UK) companies, JE Energy and BB Energy won new contracts last year to market Guyana’s crude oil.