The price per barrel of Guyana’s oil will be calculated using the Brent crude benchmark after the bill of lading for the cargo is issued and how information on the sales will be released is currently being determined, Director of the Department of Energy (DE) Dr Mark Bynoe says.
“Guyana’s crude is calculated on a dated Brent basis after the bill of lading is issued…Guyana sold its crude on a dated Brent basis, 10 days after the bill of lading,” Bynoe said, in response to questions from Stabroek News. He said that the upcoming cargoes will be sold similarly.