First Export of Guyana’s ‘Golden Arrowhead’ Crude Set for Late August to Early September

Guyana’s new grade of crude oil, Golden Arrowhead, is set to be exported for the first time between late August and early September, according to the government of Guyana, as reported by Reuters.

The new grade will come from the Yellowtail development, ExxonMobil Guyana’s fourth offshore project operated by a consortium comprising ExxonMobil, Hess, and China’s CNOOC. The trio, which controls all oil production offshore Guyana, exports their respective entitlements, while the government also markets its share independently.

Production is expected to begin in August from the ONE GUYANA floating production, storage and offloading (FPSO) vessel, delivered by SBM Offshore. The Yellowtail project, which will tap the Yellowtail and Redtail fields, will be Exxon’s largest development in Guyana, by design production, when it comes online.

The upcoming Golden Arrowhead crude will be Guyana’s first light-sweet offering, making it more attractive to refiners seeking cleaner-burning, easier-to-process barrels.

Current production from Guyana’s offshore projects exceeds 600,000 barrels per day. With Yellowtail online, total capacity will rise to over 900,000 barrels per day, positioning Guyana to become the world’s largest per capita oil producer.

Guyana has already emerged as Latin America’s fifth-largest crude exporter, after Brazil, Mexico, Venezuela, and Colombia. With output capacity projected to exceed 1.7 million barrels per day by 2030, the country is expected to climb higher in regional and global oil rankings.

Here’s what to know about the upcoming Golden Arrowhead crude debut:

• Name origin: Named after Guyana’s national flag, the Golden Arrowhead
• First cargo: Around 1 million barrels
• API gravity: 36.5°
• Sulfur content: 0.25%
• Competition: Expected to compete with Argentina’s Medanito and U.S. West Texas Intermediate crudes