Guyana: Oil Minister Vickram Bharrat projects US$600M by year-end

OILNOW – 21 October 2021

Guyana on its way to racking up around US$600 million in oil sales by year end – Bharrat

If Brent crude price continues to hover around US$85 a barrel, Guyana could comfortably get US$150M for its last two oil lifts this year, pushing the total revenues received so far to around US$600 million, says Natural Resources Minister, Vickram Bharrat…Read More

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  • brandli62  On 10/22/2021 at 8:42 am

    All thanks to the skyrocketing oil prices on the world market. It’s good that Guyana did not agree to sell its oil at a prefixed price to the Indians.

  • Kman  On 10/22/2021 at 9:36 am

    I wonder where all this cash is going to go?

    • brandli62  On 10/22/2021 at 9:43 am

      All of Guyana’s oil revenues and royalties are being deposited in the National Resources Fund, which has an account at the First Federal Reserve Bank in New York. There is currently no legislation in place governing the use of the NRF.

  • Kman  On 10/23/2021 at 11:47 am

    And the US can freeze the account at any time and confiscate the funds .,.. legally

  • brandli62  On 10/23/2021 at 4:05 pm

    Yes, if the account contains narco funds…. 😉

  • wally n  On 10/23/2021 at 5:24 pm

    I see oversight coming soon…or

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