First Crude from Guyana's Fourth Platform to be Exported in August-September

  • The first crude cargo from Guyana's fourth oil production facility, which arrived in the country in April and is being installed, is set to be exported between late August and early September, the government said on Tuesday, June 10, 2025.
  • A consortium of U.S. companies, namely, Exxon Mobil, Hess and China's CNOOC, controls all crude and gas output in Guyana. Each party individually exports its share of production, and the government is also entitled to a share of oil profits.
  • The floating facility, built by SBM Offshore, named One Guyana, is expected to begin producing in the coming months, expanding the consortium's output capacity to more than 900,000 barrels per day (bpd), the companies have said. One Guyana will produce crude and associated gas at the Exxon group's Yellowtail and Redtail offshore fields.
  • The first load of Guyana's new crude grade, called "Golden Arrowhead," will be of 1 million barrels, according to three trading sources with knowledge of the offer. The oil is expected to be the country's lightest with 36.5 API[1] degrees of density and 0.25% of sulphur content, according to an assay seen by Reuters, making it easier to refine by non-complex facilities.
  • Since beginning crude exporting in early 2020, the burgeoning oil nation has emerged as the fifth largest Latin American crude exporter after Brazil, Mexico, Venezuela and Colombia. Guyana's oil exports rose 54% in 2024 to some 582,000 bpd, fueled by European refiners' demand for easy-to-process sweet crudes, according to shipping data. Furthermore, the output capacity in the country is expected to reach 1.7 million bpd by 2030.

(Source: Reuters)

[1] The API (American Petroleum Institute) gravity, a measure of how heavy or light the petroleum is compared to water. 36.5 API degrees suggests the oil is relatively light, which is generally desirable because lighter oils are easier to refine into fuels like gasoline and kerosene. Further, Sulfur content affects the quality and environmental impact of the fuel; lower sulfur levels are preferred to reduce emissions and meet environmental regulations. 0.25% sulfur is considered low, making the oil cleaner-burning compared to higher sulfur crude oils.