The first cargo from ExxonMobil Guyana’s newly commissioned Yellowtail oil project is bound for the Netherlands, one of the leading destinations for Guyana’s crude, according to OilX, a flows intelligence firm.
OilX initially flagged the Yuan Bei Hai tanker as heading to Guyana to collect the first Yellowtail shipment, along with confirmation from Exxon and a notice from Guyana’s Maritime Administration Department.
The vessel loaded about one million barrels of Golden Arrowhead crude from the ONE GUYANA floating production vessel on the evening of August 27, according to MarineTraffic tracking data. OilX estimates the cargo will arrive in Rotterdam in early to mid-September, an estimation supported by MarineTraffic.
The shipment indicates that in less than a month since production began in early August, Yellowtail has already produced more than a million barrels of crude. Once fully ramped up, the project will sharply boost Guyana’s output, making it the world’s largest oil producer on a per capita basis.
Golden Arrowhead crude, a light sweet grade, is expected to compete with established grades from the United States and Argentina, namely West Texas Intermediate (WTI) and Medanito, according to S&P.
Yellowtail is the fourth producing project offshore Guyana, joining Liza 1, Liza 2 and Payara. Together, the developments give the country more than 900,000 barrels per day (b/d) of installed production capacity. All four are situated in the prolific Stabroek Block, operated by ExxonMobil, along with partners Hess, recently acquired by Chevron, and CNOOC.
