Since the inaugural Liza crude cargo landed on the US Gulf Coast, it has made its way to several other territories including Italy, France, and the US West Coast says Argus Media, a UK business and data intelligence firm. In its latest crude report which looked at Guyana’s oil production, Argus said that the nation’s sweet, light crude which the market is now getting a taste of, is proving to be comparable with those that are well established in the world market.
Argus said, “The sweet Liza crude sits at about a 32.1° API and 0.51pc sulfur, so it’s very similar to like a Brazilian Lula or Trinidad’s Calypso crude. But there have been other discoveries of crude in Guyana that aren’t in production yet. Tullow and its consortium (Eco Atlantic and Total) found heavy sour crude last year in the Orinduik Block, so there could be more different qualities coming out of Guyana. We just don’t know yet.”
Until such time, it was noted that Guyana’s crude has landed in territories like China, the Bahamas, France, and most recently Italy. Guyana Standard understands that the crude often goes to the Panama Canal, which facilitates travel to either Asia or the US West Coast.
In May last, Energy Department Head, Dr. Mark Bynoe, had told this news agency that the Liza crude would have made its way to at least 20 refineries around the world, following the sales made to Shell Western Supply Trading Limited (SWSTL), a subsidiary of Shell that is based on Barbados. Shell was pre-sold three cargoes, each holding one million barrels of oil.