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Shell wins auction for Guyana’s first three crude oil cargoes

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Royal Dutch Shell won the rights to market Guyana’s first cargoes of crude oil, the government said on Tuesday, just days after oil production began and launched the impoverished South American country into the ranks of world suppliers.

An Exxon Mobil-led consortium, which includes Hess Corp and China’s CNOOC Ltd, began producing crude from the Liza well on Friday. The companies have discovered more than six billion barrels of recoverable oil and gas in a massive offshore block.

Guyana has no history of oil production, nor any domestic refining capacity, so it launched an auction last week to sell three cargoes from the share the government is entitled to under the contract. It plans to search for a partner for a longer-term deal to market the government’s share of crude early next year.

The Shell deal represents an important first test for Liza crude, a light, sweet grade that could pose new competition for U.S. shale. But the grade’s price and refining qualities are unknown, and the sale will provide valuable information for Guyana and for those interested in long-term supply agreements.

“Shell looks forward to supporting the development of Guyana’s oil marketing as it establishes itself as a major new source of crudes for the market,” a Shell spokesman said in a statement.

The government’s first cargo is expected to be lifted in February. Exxon, which operates the project and holds a 45% stake in the venture, will directly lift the first cargoes, while Hess, which holds a 30% stake, will lift a cargo later in the month.

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Guyana’s Department of Energy said Shell Western Supply and Trading had been chosen from a group of nine listed international oil companies that presented proposals because its “competitive pricing” would protect the government from volatility.

It added that Shell demonstrated “willingness to share critical refinery information” to help it understand characteristics of Liza’s crude, a new grade.

“The sale has been premised on a Dated Brent price basis which reflects the tradable, spot market value of crude oil,” the department said in a statement. Pricing details will be publicly disclosed in the future, it added.

Exxon, Hess and CNOOC also bid for the government’s share, along with oil majors BP, Chevron, Total and Eni.

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REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – INDIVIDUAL SELECTION)

 

OECS MSME Guarantee Facility Project

Loan No.: IDA-62670, IDA-62660, IDA-62640, IBRD-88830, IDA-62650

Assignment Title: Senior Operating Officer (SOO)

Reference No. KN-ECPCGC-207852-CS-INDV

 

The Governments of Antigua and Barbuda, Commonwealth of Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines have received financing in the amount of US$10 million equivalent from the World Bank towards the cost of establishing a partial credit guarantee scheme, and they intend to apply part of the proceeds to payments for goods, and consulting services to be procured under this project. 

The consultant will serve as the “Senior Operating Officer (SOO)” for the ECPCGC and should possess extensive knowledge of MSME lending with some direct experience lending to Micro, small and medium-sized businesses, knowledge of the internal control processes necessary for a lending operation and the ability to design and implement risk mitigation procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, Banking or related field, with a minimum of 5 years’ experience in lending, inclusive of MSME lending. The initial employment period will be for two years on a contractual basis. Renewal of the contract will be subject to a performance evaluation at the end of the contractual period. The assignment is expected to begin on September 30th, 2021.  The consultant will report directly to the Chief Executive Officer of the ECPCGC.

The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below. 

 

https://bit.ly/3iVannm

 

The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) now invites eligible “Consultants” to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have:

  • An Undergraduate Degree from a reputable college or university, preferably in Business, Finance, Banking or related field; and
  • Minimum of 5 years’ experience in MSME lending. Applicants should also have:
  • The ability to design and implement risk management procedures 
  • Extensive knowledge of MSME lending with some direct experience lending to small and medium-sized businesses
  • Extensive knowledge of MSME banking operations
  • Knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures
  • Experience developing and presenting information in public, including responding to questions in real-time
  • Experience lending to MSMEs located in the ECCU
  • Knowledge of marketing and communicating with the MSME sector
  • Ability to draft procedures to be used in a lending operation
  • Familiarity with the mechanics of a loan guarantee program
  • Exceptional written, oral, interpersonal, and presentation skills, and
  • Proficiency in the use of Microsoft Office suite.

The attention of interested Individual Consultants is drawn to Section III, Paragraphs 3.14, 3.16, and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers July 2016, [revised November 2017] (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the Approved Selection Method for Individual Consultants set out in the clause 7.34 of the World Bank Procurement Regulations for IPF Borrowers. 

 

Further information can be obtained at the address below during office hours 0800 to 1700 hours:

Eastern Caribbean Partial Credit Guarantee Corporation

Brid Rock, Basseterre,

St. Kitts.

Expressions of interest must be delivered in a written form by e-mail by August 11th, 2021, to [email protected]

 

For further information, please contact:

Carmen Gomez-Trigg                                                            Bernard Thomas

Chief Executive Officer                                                          Chief Financial Officer

Tel: 868-620-8144                                                                  Tel: 869-765-2385

Email: [email protected]                                          [email protected]