LatAmOil: BP affiliate to market Guyanese oil in 2023

Guyana’s government has granted a subsidiary of BP (UK) the right to market its share of crude oil extracted from the Liza-1 and Liza-2 oilfields at the offshore Stabroek block in 2023.

The Ministry of Natural Resources announced that BP International had won the marketing contract for next year on November 24. It said the subsidiary of the UK-based super-major had won out over 13 other competitors but did not divulge the terms of BP International’s offer.

BP International will be taking over from a unit of Aramco, Saudi Arabia’s national oil company (NOC), which has been serving as the marketing agent for the Guyanese government’s share of crude exports in 2022. In this capacity, the Aramco subsidiary has been handling cargoes of Liza, a medium to light sweet grade of crude, and Unity Gold, a light sweet grade. It has been delivering the oil to market in cargoes of about 1mn barrels each.