July 1, 2020

Guyana shortlists 19 firms to market crude

article reposted by Tami Coley

via Carribean Business Report

Guyana’s Department of Energy (DOE) has shortlisted 19 companies from which it will choose to market its share of crude from the Liza Destiny FPSO Vessel.

Earlier this year, in February, the DOE invited oil marketing companies to submit expressions of interest to sell the republic’s crude oil entitlement for a period of one year. At the time, it had contracted the services of Shell Western Supply and Trading, out of Barbados, to do so.

“Thirty-four companies replied with an expression of interest,” the department noted in a release.

Following the submissions, the DOE formed a five-member committee to conduct due diligence checks on the companies’ qualifications and experience and then produce a shortlist. After completing the background checks, the committee shortlisted 19 firms.

“[We] will progress [to] the next phase of the procurement process and exclusively, at the same time, receive the request for proposal,” the DOE stated.

The Department of Energy added that it expects to successfully complete the next phase and appoint a marketing partner soon.

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