Contract for Crude Marketer... Thorough background checks will be carried out on all oil bidders - Energy Dept.

Contract for Crude Marketer… Thorough background checks will be carried out on all oil bidders – Energy Dept.

Feb 28, 2020 News

In its pursuit of a Marketer for Guyana’s share of the Stabroek Block oil, the Energy Department will be doing a thorough background check on all bidders.

Energy Dept. Head, Dr. Mark Bynoe

This was noted in the Expression of Interest that was published by the Energy Department this week via its Facebook page.
In the document, the department said that all bidders should send their application to the Chairman of the National Procurement and Tender Administration Board (NPTAB), Berkley Wickham by 14:00hrs on March 12, 2020.
It was noted that the applicant must demonstrate that it has at least five years of experience in Crude Oil marketing and trading and provide copies of its Certificate of Incorporation. It must also provide details of its capabilities and the volume of crude oil trading and marketing it did by geography, over the last five years.
The Energy Department also wants to see details of previous experience in introducing a new grade into the market as well as the applicant’s Code of Conduct Statement.
Significantly, the bidder has to make provisions to allow the Department of Energy to verify all claims made in submission, and also, to verify that the bidder’s organisation is not in receivership, or the subject of any form of insolvency of bankruptcy proceedings or the subject of any form of winding up petition or proceedings.
A written statement confirming that the bidder does not have any Director who has been convicted in any country for a criminal offence relating to fraud or any financial impropriety or criminal misrepresentation or falsification of facts relating to any matter also has to be provided.
Accompanying that statement should be details of any pending litigation the bidder may or may not have.
Kaieteur News understands that the successful candidate will be required to provide support to the Energy Department in all operating and back office responsibilities of managing crude sales and for each individual lift from the Liza Destiny, Guyana’s first Floating Production Storage and Offloading vessel.
The successful Crude Marketing Agent will also have to support the Energy Department in the first year of introduction of the Liza grade in multiple geographies and refinery systems, and work closely with the Department in understanding the behaviour and yields of the Liza Blend and how these affect pricing differentials.
Of note is the fact that it will have to conduct training sessions for personnel attached to the department in matters relating to Crude oil Supply and Trading fundamentals, and more specifically, those relevant to the Liza grade pricing. Kaieteur News understands that the Crude Marketing Agent would have to use all reasonable efforts to provide relevant information, documentation and/or training in a timely manner for Energy Department personnel.
The contract is expected to last for 12 months.

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