CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

CGX Energy Inc. is a Canada-based oil and gas exploration company. It is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana. The Company, through one of its subsidiaries, holds an interest in a Petroleum Prospecting Licence (PPL) and related Petroleum Agreement (PA) on the Corentyne block in the Guyana Basin, offshore Guyana. The Company, through its subsidiary Grand Canal Industrial Estates, is constructing the Berbice Deep Water Port. This facility, located on the eastern bank of the Berbice River, adjacent to and north of Crab Island in Region 6, Guyana, is being constructed on 30 acres with 400 m of river frontage. Its subsidiaries include CGX Resources Inc., GCIE Holdings Limited and CGX Energy Management Corp. It is the operator of the Corentyne block and holds a 27.48% working interest. Its Wei-1 exploration well is located west of the Kawa-1 discovery in the northern region of the Corentyne block.

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CGX Energy Inc > Oil people please explain

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Comment by mrbbon Jul 01, 2023 3:22am

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Post# 35523411

RE:RE:RE:RE:Oil people please explain

Kelvin wrote: OK great mrbb! I stand corrected with great clarification. I didn't realize that shale oil was so low in the necessary octane for transportation fuels even though it has a high API and a low viscoity at 25 C.

So light, sweet crude with high octane content is what refiners in the US prefer. Is that what Exxon is exporting from Guyana?

it's not what the general public think. US refiners prefer medium and heavy oil for refining. It's buy low sell high. With light oil, refiners buy high and sell slightly higher. Which kind of oil input would US refiners prefer if business objective is to maximize profit?

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