Logo of Aramco Trading
Republic of Guyana, in South America, awarded Aramco Trading Ltd., a unit of Saudi Aramco, a tender to purchase a portion of the country's oil production, Reuters reported, quoting an official source.
The country in August received bids from 15 companies aiming to market its allocation of light crude produced off the coast by a consortium led by Exxon Mobil Corp.
“While Guyana had initially been seeking a partner to market its oil for one year, the government has for now awarded Aramco Trading only the next loading, which is scheduled for Sept. 21-22 and will be the government's fourth of 2021,” Natural Resources Minister Vickram Bharrat told Reuters.
Aramco will likely be awarded the one-year contract, but that process is not yet complete, Bharrat added. The firm submitted the lowest compliant bid for a commission of $0.025 per barrel.
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