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Sale of First Oil
DEAR EDITOR,
Guyana gets oil from Liza 1. See the Oil tanker. See the Oil tanker collecting one million barrels of oil. Look at the oil flow. Look at the Oil tanker go. Go Oil tanker, go!
This is the Department of Energy (DoE)’s information for Guyanese in a nutshell; delivered in ‘Dick and Jane’ style; fit for consumption of toddlers only. Guyanese expected information in keeping with minimum standards of accountability and transparency.
The Government of Guyana refuses to be shamed, cajoled or otherwise forced into revealing the Shell Western Supply and Trading Limited contract or its important terms. ExxonMobil has received Brent Light Sweet plus a USD 6 Premium from the first lift.
The first few lifts from a well are known to contain higher levels of salinity, sediments and other impurities. Guyanese should have been informed of the quality of every lift by the DoE. Guyanese should be informed of the price assessed and attained for each lift, we would have been able to see the improvement in quality and price and have a basis for expectation of revenue inflow to the Natural Resource Fund.
Based on information available, one would expect to see a deposit of USD 66-67 Million (depending on the Brent Crude daily price).
The actual first lift and sale of ‘profit-oil’ will happen on the 18th February. The Department of Energy cannot continue to play the Guyanese public for fools. A day of reckoning beckons.
Respectfully
Robin Singh
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