Guyana to Agree to Oil Prices with Exxon Before Govt’s First Export

Guyana is aiming to complete talks with the Exxon Mobil Corp-led consortium producing oil off its coast over crude pricing, lifting costs, and scheduling before the government exports its first cargo, energy director Mark Bynoe said on Monday.

Exxon Mobil and partners Hess Corp and China’s CNOOC Ltd inaugurated oil output in December at the prolific offshore Stabroek block, aiming to ramp it up to 120,000 barrels per day (bpd) this year. Guyana had no prior history of crude production.

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