Crude oil produced from the Spanish Lookout Oilfield and the Never Delay Oilfield are mixed at the Belize Natural Energy Ltd. (BNE) Spanish Lookout central production facility located at Iguana Creek in the Cayo District, just outside of the Spanish Lookout Community. The oil is sold both locally and internationally. Local sales are made directly from BNE at the Central Production Facility. Local industries purchase the crude oil to use as fuel oil to power large boilers and generators which assists in reducing the overall electric bill for these local consumers.
The crude oil is also transported from the Central Production Facility in tanker trucks and offloaded and stored in the shore tanks at the BNE international export facility located at the Big Creek Port in the Stann Creek District. International sale of the crude oil is made from this export facility. International sales are made to Shell Trading in Houston, Texas, USA. The sale price is determined through sales agreements between BNE and Shell Trading using a five-day weighted average of the spot market price of crude oil at the time of each shipment.
In more recent years, crude oil is also being sold to Guatemala by trucking across the western border. The Guatemalan purchasers make direct purchase from the Spanish Lookout Central Production Facility. The sale price is determined through sales agreements and is derived using WTI Houston.