… Projected to fall further
(Feb 25, 2020 Hess Corporation has revealed that the current breakeven price for Guyana’s oil is US$35 per barrel Brent, among the lowest in the world. This was revealed by the Chief Executive Officer, John Hess. (photo at right)
For those unaware, the breakeven price is the price at which the oil must be sold to cover the cost to produce it. Every additional dollar on the barrel would be the profit.
Kaieteur News had revealed in December that Guyana’s crude will be priced against North Sea Brent crude, a competitive set of crudes extracted from fields in the North Sea. Continue reading
