Petrobras buys Guyana crude for refining

  • Kiana Wilburg
  • June 29, 2022
  • Trending

Wednesday 29, june 2022

Guyana’s market reach expands with its first sale of crude to Petrobras, Brazil’s state oil company.

According to Reuters, Petrobras has secured its first cargo of Guyanese crude, with the intention of refining it domestically.

Guyana has been ramping up production, with the start of a second floating production facility in February. It now has the potential to sell two light and sweet oil grades with plans to pump up to 360,000 barrels per day (BPD) this year.

At present, the two operations FPSOs are the Liza Destiny and Liza Unity. The Destiny has a production capacity of 120,000 BPD and the Unity can produce up to 220,000 BPD. Both FPSOs were built by SBM.

According to a Reuters article, the 1-million-barrel cargo of crude loaded last week from the Liza Destiny and departed for Petrobras onboard the Bahamas-flagged tanker Cascade Spirit. The vessel plans to discharge in Brazil at month’s end, according to Refinitiv Eikon data, which did not identify an arrival port.
Natural Resources Minister Vickram Bharrat indicated that there had been two crude lifts from the Liza Unity and Liza Destiny FPSO vessels in the Stabroek block that have been recorded for the month of June, each a million barrels.

He added that the next lifts would be in July and August.