INSUBCONTINENT EXCLUSIVE:
Guyana may resume talks with India to sell its petroleum shareOil manufacturer Guyana might resume talks with India for a deal to offer the
government's share of crude as output rises next year, the South American nation's vice president told Reuters.Earlier this year, Indian
refiners bought at least two test freights of Guyana's Liza light sweet crude
But government-to-government negotiations on a term supply agreement stalled on cost and other contract terms, and Guyana later struck a 1
year marketing handle a system of Saudi Aramco.India's oil secretary Tarun Kapoor today stated the world's 3rd biggest oil consumer is
forming a group that will unite state-run and private refiners to seek better crude import deals.Guyana produces up to 120,000 barrels daily
of crude through a consortium led by Exxon Mobil from a single drifting production storage and unloading system (FPSO)
The group has actually found about 10 billion barrels of recoverable oil resources off the coast of Guyana.A 2nd production center, the Liza
Unity, is anticipated to show up by year end, to begin operations in mid-2022, boosting production by 220,000 bpd
A third, the Liza Success, also will include some 220,000 bpd from 2024
We have far more oil coming on the market because, from early next year, we will have the new FPSO, which will be producing double the
quantity than the existing FPSO , Guyana Vice President Bharrat Jagdeo informed Reuters late on Wednesday.Guyana wants to resume talks with
India for future oil sales, but the Indian government will need to be competitive, Mr Jagdeo said.Liza crude, which started streaming to
the market in early 2020, has actually been exported by the project's partners generally to Panama, where the oil is saved and later
delivered to Asia and other locations, according to Refinitiv Eikon tracking data.Exxon also has tested the crude at its US refining system,
while Guyana, which does not have refineries, has actually gotten marketing representatives to allocate its share of production.
