Guyana received US$4.9 million in oil royalties in 1Q20

Published by Nicholas Woodroof, Editor
Oilfield Technology, Tuesday, 26 May 2020 15:30

A reported by Reuters, Guyana received US$4.9 million in royalty payments for oil production at the offshore Stabroek block in 1Q20, the finance ministry said on Monday, a period that included the South American country’s first crude exports.

The crude produced by an ExxonMobil-led consortium at the Liza prospect in the Stabroek block was priced for the purposes of royalty payments at US$61.87/bbl in January, US$54.35/bbl in February, and US$36.79/bbl in March, the ministry said.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/26052020/guyana-received-us49-million-in-oil-royalties-in-1q20/