Guyana receives almost US$80 million for sole oil lift in March

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A statutory report in Guyana’s Official Gazette indicates the country received and sold one lift of profit oil from Stabroek Block crude production in March.

The lift earned the country US$79,613,822.68 (GY$16,599,482,029). 

For the new year, Guyana has received US$219,454,039.47 (GY$45,756,167,230) in payments for royalty and two lifts of profit oil.

However, if one were to count payments for two December lifts deposited into the Natural Resource Fund in January, the total revenue received amounts to US$377,140,827 (GY78,633,862,417). The Fund therefore closed March with a balance in excess of US$1.4 billion. 

BP Oil is marketing Guyana’s profit oil lifts.

ExxonMobil operates both Liza projects producing crude oil offshore. Output is 380,000 barrels per day (bpd). 

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