While the sales terms have not been publicised, Guyana received nearly US$80 million for its last one million barrels of oil, the highest sum to date, and pushing the total in its account at the New York Federal Reserve Bank to more than US$430 million, sources say.
“The account has seen a deposit of [US]$79.6 million for the last oil sales and a [US]$12 million in royalties,” a source told the Sunday Stabroek.
Using Brent crude oil estimates, it would have meant that this country received a little more than US$79 per barrel on the last million barrels lift.
