Topics

Django

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.

Replies sorted oldest to newest

AmralSenior Member

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

2/19/207:36 AM

Former Member

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.

2/19/208:47 AM

Former Member

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.

2/19/208:47 AM

TotaramSenior Member

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.

2/19/209:06 AM

Bibi HaniffaGNI Queen

So how much money Guyana owe Exxon on this shipment?

2/19/2010:12 AM

alena06Senior Member

Django posting articles he does not understand. 😃

2/19/2010:29 AM

Former Member

baffle the ignorant masses with BS

2/19/2010:41 AM

NehruBig Mouth Member

alena06 posted:
Django posting articles he does not understand. 😃

Only now you realize that? There is much more to that Chap. I think he is a comedian but you never know

2/19/2010:42 AM

DjangoAdmin

alena06 posted:
Django posting articles he does not understand. 😃

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

2/19/2011:37 AM

Billy Ram BalgobinBilly

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.

2/19/2011:45 AM

Former Member

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.

2/19/2011:52 AM

DjangoAdmin

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.

2/19/2011:54 AM

Former Member

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.

2/19/2011:59 AM

TotaramSenior Member

Whatever the formula, Guyana will be better off financially because of oil and that could lead to progress in other areas.

2/19/2012:15 PM

NehruBig Mouth Member

HEHEHEHEHE

2/19/2012:34 PM

NehruBig Mouth 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!!!

2/19/2012:36 PM

TotaramSenior Member

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?

2/19/201:03 PM

TotaramSenior Member

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?

2/19/201:13 PM

TotaramSenior Member

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 ?

2/19/201:17 PM

NehruBig Mouth Member

DG, the PNC does pick dem supporters based on DUMBNESS!!

2/19/201:19 PM

Former Member

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.

2/19/201:22 PM

TotaramSenior Member

Nehru posted:
DG, the PNC does pick dem supporters based on DUMBNESS!!

You are the very epitome of stupidity. You spend most of your time labelling people who you know nothing about.

2/19/201:23 PM

Former Member

look at all yall trying to count other people money

2/19/201:23 PM

NehruBig Mouth Member

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

2/19/201:23 PM

TotaramSenior Member

Nehru posted:
Heducation is what LAARA got . Well, Laar too!!!

What's this garbage?

2/19/201:26 PM

Former Member

Nehru posted:
DG, the PNC does pick dem supporters based on DUMBNESS!!

You see story deh, eh bhai Nehru.

2/19/201:26 PM

Former Member

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.

2/19/201:27 PM

NehruBig Mouth Member

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

2/19/201:32 PM

Former Member

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.

2/19/201:33 PM

Former Member

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.

2/19/201:36 PM

Former Member

the worse thing is coming to conclusions without understanding what is being said

we need someone who understands futures in the oil market...TK?

2/19/201:36 PM

NehruBig Mouth Member

Nah Baseman is the best Analyst for ile!!

2/19/201:38 PM

TotaramSenior 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.

2/19/201:45 PM

Former Member

GNI has a executive, who is a expert analyst...

2/19/201:45 PM

TotaramSenior Member

Dave posted:
GNI has a executive, who is a expert analyst...

ehe e name Dave and he de man on the ground who know what's what.

2/19/201:56 PM

Former Member

Comrade Bynoe.

2/19/201:57 PM

DjangoAdmin

Let's help the crew out,

http://cost-finder.com/what-is...pping-oil-by-tanker/

2/19/201:58 PM

Former Member

Energy sector - oil - is indeed increasing primarily because of the United States sanctions against Russia.

2/19/201:59 PM

Bibi HaniffaGNI Queen

Dave posted:
GNI has a executive, who is a expert analyst...

Our GNI executive need to stop wasting time here and focus on his business.

2/19/201:59 PM

Bibi HaniffaGNI Queen

Totaram posted:
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?

If you sell the 5 million barrels of oil for 2020 at -$1.50. How much do you get?

2/19/202:02 PM

DjangoAdmin

Bibi Haniffa posted:
Dave posted:
GNI has a executive, who is a expert analyst...
Our GNI executive need to stop wasting time here and focus on his business.

That's what you found ? i man semi-retired and chilling. You checked D&B only one company listed there, the info is incorrect ,that's Comm. RE . Good gob congratulations !!!! Dig some more you will find other things .Imagine i am accused of digging on people.

2/19/202:04 PM

kpHonorary Member

Oil produced in December to be credited to special account

February 19, 2020

First oil

– Govt says no monies earned; crude from December comes under profit oil
– as Greek tanker set to depart with Guyana’s share of crude oil

The Ministry of Finance has compiled and released its first report on the Government’s management of the oil sector since first oil started in December, revealing among other things that no revenues were earned by the Government for that month.

Oil tanker Cap Phillippe will be shipping Guyana’s share of crude

Rather, the report states that all petroleum from December will go towards profit oil, of which the Government will be entitled to half. Moreover, the amount will be credited into a special account called an under/over lift account. The report also goes on to explain why no oil was lifted.
“During December 2019, no oil was lifted from Liza Destiny since the volume available for lifting, ie 163,673 BBL (Barrels of Oil), was less than the standard cargo size of 1,000,000 BBL.”
“Since the Government did not lift its December 2019 entitlement, this amount is credited to an (over)/under lift account which keeps track of all barrels of crude owed to parties. The combined entitlement of the Contractor10 (CONTR) at the end of December 2019 was 71,040 BBL.”
A total of 427,282 barrels of oil were actually produced, of which 3202 barrels were used for production purposes. Approximately 282,000 barrels of oil were used specifically for the cargo tank ballast.
The first lift of a million barrels of oil from the Stabroek Block, part of Exxon’s share, took place last month. It was expected that Guyana’s first share of crude would be lifted by today. A ship, the Cap Phillipe, arrived last week to ship the crude.
In fact, reports in sections of the media indicate that the oil tanker is set to depart with the one million barrels of crude. According to reports, the offloading will take up to 36 hours, under the watchful eyes of the Guyana National Bureau of Standards (GNBS), after which the tanker is likely to depart today.
Back in December, the Department had announced that Guyana’s first three lifts of one million barrels of oil each will be sold to Shell. Shell was chosen ahead of companies like Exxon, CNNOC, Hess and BP, all of which bid for the oil. But since the oil would be sold on the spot market, there have been questions as to whether Guyana would earn less money for the oil.
This news was immediately criticised by Opposition Leader Bharrat Jagdeo, who has also said that companies participating in this process could be barred from doing business in Guyana should his party be elected next year. In addition, Auditor General Deodat Sharma had said in sections of the media that his department would look into the transaction.
In defending the decision, the Department had said that at the end of the process, Shell had the most competitive yet secure pricing.
The Department had also claimed that Shell’s global trading reach, Latin American interests and willingness to share refinery info were factors in the decision. In addition, they had reported that Shell was ready to support the Energy Department in operating the cargoes.
“The decision was based on the following criteria: A competitive pricing that limits the Government’s exposure to market uncertainty, the size, scale and global reach of the Shell trading operations’, the company’s high level of integration between Upstream, Trading and Downstream,” the Department had said.
The Department also cited Shell’s “strong foothold in the Latin American markets and the size and scale of their shipping and storage operations in the region, allowing for multiple options on the Liza crude commercialisation. The range of new grades Shell has recently introduced into the market and their willingness to share critical refinery information with the DE which Guyana needs in order to understand Liza crude behaviour.” GUYANA TIMES..

2/19/202:11 PM

Bibi HaniffaGNI Queen

Django posted:
Bibi Haniffa posted:
Dave posted:
GNI has a executive, who is a expert analyst...
Our GNI executive need to stop wasting time here and focus on his business.
That's what you found ? i man semi-retired and chilling. You checked D&B only one company listed there, the info is incorrect ,that's Comm. RE . Good gob congratulations !!!! Dig some more you will find other things .Imagine i am accused of digging on people.

Info is not incorrect. Unless you fudging the books.

2/19/202:12 PM

DjangoAdmin

Bibi Haniffa posted:
Django posted:
Bibi Haniffa posted:
Dave posted:
GNI has a executive, who is a expert analyst...
Our GNI executive need to stop wasting time here and focus on his business.
That's what you found ? i man semi-retired and chilling. You checked D&B only one company listed there, the info is incorrect ,that's Comm. RE . Good gob congratulations !!!! Dig some more you will find other things .Imagine i am accused of digging on people.
Info is not incorrect. Unless you fudging the books.

Type of Business .No fudging ,always above board.

2/19/202:15 PM

Former Member

Bibi Haniffa posted:
Dave posted:
GNI has a executive, who is a expert analyst...
Our GNI executive need to stop wasting time here and focus on his business.

Funny that a supposed high and lofty Wall Street executive like you didn't know that Tesla traded options. But you can dig up people's personal info at the drop of a hat. Perhaps you just naturally gravitate to low class behavior.

Where is Kata-harry when you need him? lol

2/19/202:18 PM

Former Member

Django posted:
Bibi Haniffa posted:
Django posted:
Bibi Haniffa posted:
Dave posted:
GNI has a executive, who is a expert analyst...
Our GNI executive need to stop wasting time here and focus on his business.
That's what you found ? i man semi-retired and chilling. You checked D&B only one company listed there, the info is incorrect ,that's Comm. RE . Good gob congratulations !!!! Dig some more you will find other things .Imagine i am accused of digging on people.
Info is not incorrect. Unless you fudging the books.
Type of Business .No fudging ,always above board.

Banna, give it a rest already with your long winded endless quotations for a 2 word answer and constantly feeling the need to justify or explain who you are and what you're doing. Jeezus man, no wonder no one registers to post here!

2/19/202:19 PM

DjangoAdmin

Parts of personal info edited .

2/19/202:20 PM

DjangoAdmin

Iguana posted:
Django posted:
Bibi Haniffa posted:
Django posted:
Bibi Haniffa posted:
Dave posted:
GNI has a executive, who is a expert analyst...
Our GNI executive need to stop wasting time here and focus on his business.
That's what you found ? i man semi-retired and chilling. You checked D&B only one company listed there, the info is incorrect ,that's Comm. RE . Good gob congratulations !!!! Dig some more you will find other things .Imagine i am accused of digging on people.
Info is not incorrect. Unless you fudging the books.
Type of Business .No fudging ,always above board.
Banna, give it a rest already with your long winded endless quotations for a 2 word answer and constantly feeling the need to justify or explain who you are and what you're doing. Jeezus man, no wonder no one registers to post here!

I have my own way to deal with nosy people ,bhai. See how they exposing themselves ,one thing should have been done ,i stayed put.

2/19/202:24 PM

Former Member

Totaram posted:
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?

Bigots like Nehru, Dave, Shithouse Sean, etc. can't be grateful because Indian rule of Guyana matters more to them. Most of these old, dribbling Indian bigots have no concept of Guyana as a NATION. They see it as their patrimony, for the benefit of Indians only.

Were Guyana PPP run, this packoo Nehru would be hollering Jagdeo's name in ecstasy. Shameful for a man to do that for another man but it suh dem effeminates duz roll.

2/19/202:28 PM

Former Member

Totaram posted:
Dave posted:
GNI has a executive, who is a expert analyst...
ehe e name Dave and he de man on the ground who know what's what.

How u a do nah ..

2/19/202:29 PM

NehruBig Mouth Member

Dem Boys seh Guana ah tek Kaak!!!

2/19/202:49 PM

TotaramSenior Member

Dave posted:
Totaram posted:
Dave posted:
GNI has a executive, who is a expert analyst...
ehe e name Dave and he de man on the ground who know what's what.
How u a do nah ..

Me de good...enjoying the good life .

2/19/203:49 PM

Billy Ram BalgobinBilly

In accounting and finance everything is expressed in dollars. Why this gov't. cannot say how much money the nation have earned so far from oil? Why issue vague statements that have everyone guessing? What's the big secret?

2/19/203:57 PM

NehruBig Mouth Member

Billy, simple, they know they have DUMB supporters, just look around here!!

2/19/204:09 PM

Former Member

Billy Ram Balgobin posted:
In accounting and finance everything is expressed in dollars. Why this gov't. cannot say how much money the nation have earned so far from oil? Why issue vague statements that have everyone guessing? What's the big secret?

PPP comrades silly comrades. Comrades say lost already $55 Bil another silly comrade said $108 billion. Big secret silly comrade between $55 and $108 billion.

2/19/204:16 PM

NehruBig Mouth Member

See Billy, I rest my case

2/19/204:19 PM

Former Member

Image may contain: text

Attachments

Hide

Images (2)

2/19/204:25 PM

TotaramSenior Member

Ramson should check his math. In his most recent statement he left out the 2% royalty which brings the projected revenue closer to US300M than than US213M he suggests.

2/19/204:58 PM

NehruBig Mouth Member

iN 1975 gUYANA RECEIVED 135 MILLION US IN SUGAR LEVY. NOW WITH ALL THE ILE GUYANA GUN RECEIVE 200 MILLION, SKONT IS DUNCES WE DEALING WITH. WHITE MAN KNOW WHO TO FOOL, NO WONDER THEY DEALT WITH THE PNC!!

2/19/205:00 PM

Former Member

Nehru posted:
iN 1975 gUYANA RECEIVED 135 MILLION US IN SUGAR LEVY. NOW WITH ALL THE ILE GUYANA GUN RECEIVE 200 MILLION, SKONT IS DUNCES WE DEALING WITH. WHITE MAN KNOW WHO TO FOOL, NO WONDER THEY DEALT WITH THE PNC!!

Dumb, illiterate, patently stupid, Ignar PUNK littering the board with nonsense in caps, no less. 5 million barrels at an average price of $50 per barrel is $250 million. The average GROSS price the oil companies got was $250 million, as oil hovers in the 50's.

Of that, Guyana gets $213 million in revenues plus royalty. That's just for 2020. So WTF are you complaining about you CLOWN?!!! Just STFU and leave it to people who understand!

$213 million revenues plus 2% royalty. I'm interested in the cost to Guyana side of the equation to calculate profits.

2/19/205:44 PM

NehruBig Mouth Member

Iguana posted:
Nehru posted:
iN 1975 gUYANA RECEIVED 135 MILLION US IN SUGAR LEVY. NOW WITH ALL THE ILE GUYANA GUN RECEIVE 200 MILLION, SKONT IS DUNCES WE DEALING WITH. WHITE MAN KNOW WHO TO FOOL, NO WONDER THEY DEALT WITH THE PNC!!
Dumb, illiterate, patently stupid, Ignar PUNK littering the board with nonsense in caps, no less. 5 million barrels at an average price of $50 per barrel is $250 million. The average GROSS price the oil companies got was $250 million, as oil hovers in the 50's.
Of that, Guyana gets $213 million in revenues plus royalty. That's just for 2020. So WTF are you complaining about you CLOWN?!!! Just STFU and leave it to people who understand!
$213 million revenues plus 2% royalty. I'm interested in the cost to Guyana side of the equation to calculate profits.

ASS HOLE I THANK GOD I DO NOT HAVE SMELLOVISION YOU STINKING DEAD RAT. WHAT HAPPEN SOAP AND WATER IS YOUR ENEMY???

2/19/205:52 PM

Former Member

Comrade Granger wit coalition team better to take care Guyana people affair. PPP comrade are silly and fakery qualified. Very silly comrades..

2/19/206:04 PM

Former Member

Zara posted:
Comrade Granger wit coalition team better to take care Guyana people affair. PPP comrade are silly and fakery qualified. Very silly comrades..

Eh-eh Zara, yuh ah seh dat yuh Comrade Granger wit coalition team ... silly comrades.

2/19/206:10 PM

Skip to main content

Topics

Oil produced in December to be credited to special account

First oil

– Govt says no monies earned; crude from December comes under profit oil – as Greek tanker set to depart with Guyana’s share of crude oil

The Ministry of Finance has compiled and released its first report on the Government’s management of the oil sector since first oil started in December, revealing among other things that no revenues were earned by the Government for that month.

Attachments

Add Reply

Membership Required

Remove From Your Block List

Manage Follow Preferences

Block

Premium Membership Required

GNI VIP Member

Please wait...

– Govt says no monies earned; crude from December comes under profit oil
– as Greek tanker set to depart with Guyana’s share of crude oil