Aramco Trading To Market Guyana’s Oil For One Year

(Stabroek News, 15.Sep.2021) — Already coming out with the best responsive bid during evaluation for the one-year contract to market Guyana’s oil, Saudi Arabian company, Aramco Trading Limited, was also awarded the single-lift slated for this month to avoid this country having to forfeit its one million barrels of crude, Minister of Natural Resources Vickram Bharrat says.

He also confirmed that Aramco’s contract “is for a year; the 12 months starting from September to August next year” and would include the scheduled September 22nd lift.

The one-time approval was done simultaneously to give the procuring entity, the Ministry of Natural Resources (MoNR), and the National Procurement and Tender Administration Board (NPTAB), the time needed to complete the requirements of the Procurement Act and is the reason the decision has not yet been formally announced by the NPTAB, sources at the agency say.

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By Marcelle Thomas