Big Oil to Bid for Guyana Crude Cargoes

Large oil companies Exxon Mobil, Hess Corp, CNOOC, BP, Chevron, Total, and Eni are expected to present bids to buy the first three cargoes of Liza crude offered by Guyana’s government, the South American country’s director of energy said on Monday.

A consortium of Exxon, Hess, and China’s CNOOC has discovered more than 6 billion barrels of recoverable oil and gas resources off the country’s coast. The companies plan to begin exporting crude from the country, which has no history of oil production, in January and February.

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