SINGAPORE, Nov 25 (Reuters) - China, world's top oil
importer, will receive its first Golden Arrowhead crude cargo
from Guyana in December, according to trade sources and shipping
data, as producer CNOOC Ltd seeks to expand markets
for the new grade.
CNOOC loaded the 1-million-barrel cargo onto Very Large
Crude Carrier Sophia on November 3 which will discharge its
cargo on December 15 at Huizhou in southern Guangdong province
where CNOOC operates a refinery, data from shipping analytics
firm Kpler showed. The tanker is also carrying about 800,000
barrels of Liza crude for Huizhou, the data showed.
Guyana is ramping up exports as its oil production from a
consortium led by Exxon Mobil ( XOM ) has risen to 900,000
barrels per day (bpd) following the start-up of the group's
fourth floating output facility in August. Exxon's partners
include Hess and CNOOC.
The fourth facility produces Golden Arrowhead, a light sweet
crude with an API density of 36.5 degrees and contains 0.25%
sulphur. The oil has mostly been shipped to Europe so far.
India is also due to receive its first GAH cargo in
December, after Exxon sold 2 million barrels of the oil to state
refiner Indian Oil Corp last month.
Guyana's exports have hit an all-time high of about 700,000
bpd so far this year, up from 622,000 bpd in 2024, Kpler data
showed.