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Shell’s final lift of Liza crude could push Guyana’s revenue well over US$130 million

Dated: July 27th, 2020

OilNow


An oil tanker lifts crude from the Liza Destiny FPSO at the Stabroek Block offshore Guyana.

Shell Western Supply and Trading Limited will lift its third and final 1 million barrels of Liza Crude next week under the existing contract it has with the government of Guyana which could see the country’s revenue from oil exports and royalty climbing above US$130 million if the price of Brent holds steady just above US$40.


Guyana’s first 1-million-barrel oil cargo was sold at around US$55 per barrel and the second lift at approximately US$35 per barrel. Together with royalty from oil produced and sold in the first quarter of 2020, the total deposited thus far in the Natural Resources Fund account amounts to almost US$95 million. Brent has been trading just above US$40 during the month of July.

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