Saudi Aramco Unit Wins Guyana Oil Tender

Reuters – Guyana awarded a unit of Saudi Aramco, a tender to purchase a portion of the country’s oil production, and the two parties will likely enter into a one-year marketing deal, an official said on Tuesday.

The South American country last month received bids from 15 companies aiming to market its allocation of light crude produced off the coast by a consortium led by Exxon Mobil Corporation. Guyana, a nascent oil producer, is entitled to a portion of the oil but lacks the capacity to refine it.

While Guyana had initially been seeking a partner to market its oil for one year, the government has for now awarded Aramco Trading Ltd only the next loading, which is scheduled for Sept. 21-22 and will be the government’s fourth of 2021, Natural Resources Minister Vickram Bharrat told Reuters.