Platts to launch assessment of Guyana's Unity Gold crude

Platts, a part of S&P Global Commodity Insights, will launch a daily assessment for Guyana's Unity Gold crude, effective Aug. 1, 2023

The assessment reflects the value of waterborne Unity Gold crude loading on an FOB basis from the Liza Unity Floating Production Storage and Offloading vessel offshore Guyana, 30 to 60 days forward. The typical cargo size is 1 million barrels.

The Unity Gold assessment will be published as an outright price (Platts symbol: AUNIA00), as well as differentials to the Latin America Dated Brent strip, Latin America Brent Futures strip and Latin America WTI strip, which align with a 30-to-60 day loading window. In the absence of bids, offers, and trades for Unity Gold, Platts may assess the crude based on spreads to comparable grades. Platts may also use market information provided on a delivered basis to inform this FOB assessment.

AssessmentCodeMAvg

Unity Gold FOB GuyanaAUNIA00AUNIA03

Unity Gold FOB Guyana vs Latin America Brent Futures StripAUNIB00AUNIB03

Unity Gold FOB Guyana vs Latin America WTI StripAUNIC00AUNIC03

Unity Gold FOB Guyana vs Latin American Dated Brent StripAUNID00AUNID03

Unity Gold crude has a typical API gravity of 35.3 degrees and sulfur content of 0.39%, according to publicly available assays. Unity Gold crude oil is produced by a joint venture operated by ExxonMobil affiliate Esso Exploration and Production Guyana Limited, together with Hess Guyana Exploration and CNOOC Petroleum Guyana Limited, according to ExxonMobil.

The Liza Unity FPSO, which produces Unity Gold, reached its production capacity of approximately 220,000 b/d in July 2022, according to Hess. The Unity Gold assessment will join Platts existing assessment of Liza crude (Platts symbol: ALIZA00). S&P Global Commodity Insights analysts expect Guyana crude production to rise to around 517,000 b/d in 2024 and 1.2 million b/d by 2030.

The new assessments will be available on Platts Global Alert pages 280 and 281. They will be published in Crude Oil Marketwire, Latin American Wire and Oilgram Price Report.

Please send any comments or feedback to americas_crude@spglobal.com and pricegroup@spglobal.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.