Guyana’s Eighth Oil Lift Slated For November

• Guyana’s eighth oil consignment is slated to be lifted in November, according to Minister of Natural Resources, Vickram Bharrat, who confirmed that this next oil lift will also mark the fifth for this year. 
• On Tuesday, the Guyana Chronicle reported that because of the continued rise in global oil prices, the country’s petroleum revenues will remain on an upward trajectory, with the country’s eighth oil lift positioned to rake in close to US$80 million. 
• At the time of that report, the price for brent crude was pegged at approximately $79.24 – its highest since October 2018. However, that figure has dropped slightly to $78.72 per barrel, as at Tuesday. 
• Should this remain the case during Guyana’s November oil sale, the country would earn some $78,720,000, which would be less than revenues garnered from the seventh oil lift that valued US$79,617,561.87, and marked the largest single oil payment the country has received to date.

(Source: Guyana Chronicle)