Guyana’s Natural Resource Fund (NRF) has received approximately US$901.6 million (GY$187.99 billion) in oil revenues for 2025 as of the end of April, Bank of Guyana reports show, reflecting continued robust inflows from the ExxonMobil-operated Stabroek Block.
According to the April 2025 report from the Bank of Guyana, the NRF received approximately US$296.2 million (GY$61.76 billion) in April alone, comprising US$210.8 million (GY$43.95 billion) from the sale of three million-barrel cargoes and US$85.4 million (GY$17.81 billion) in royalties for crude produced in the first quarter of 2025. These April revenues brought the year-to-date total to US$901.6 million (GY$187.99 billion), when added to the US$605.46 million (GY$126.24 billion) received in the first quarter.
To date, all inflows into the NRF have come from royalties and profit oil sales originating from the prolific Stabroek Block, operated by ExxonMobil in partnership with Hess and CNOOC. The operator said recently that production across the block reached approximately 668,000 barrels per day (b/d), a level expected to underpin continued strong revenue generation for both Guyana and the Exxon-led group.
In the first four months of the year, the government withdrew US$800 million (GY$166.8 billion) from the NRF — US$400 million (GY$83.4 billion) in Q1 and US$400 million (GY$83.4 billion) in April — representing nearly a third of the total US$2.463 billion (GY$513.54 billion) approved by the National Assembly for withdrawal in 2025.
The oil sales revenue received in April corresponds to the sale of three cargoes, bringing Guyana’s 2025 production-year sales to seven cargoes so far (excluding two January payments for December 2024 crude). The royalty received in April marks the first such payment tied to oil produced and sold in 2025. A royalty payment received in January was linked to crude sales from Q4 2024.
Guyana expects to earn a total of US$2.5 billion (GY$521.25 billion) in oil revenues this year — US$2.16 billion (GY$450.36 billion) from oil sales and US$341 million (GY$71.1 billion) from royalties — based on its entitlement of 31 cargoes from a projected 246 total cargoes exported from the Stabroek Block in 2025.
The 246 total cargoes projected for 2025 is a government estimate and represents an increase from the 225 cargoes received in 2024. This increase is largely attributed to the expected startup of the Yellowtail project in the third quarter of 2025, which is expected to boost production even further in the fourth quarter.
Guyana’s Oil Ledger offers analyses of the latest oil production data and government oil fund receipts, published typically on a fortnightly basis. The column is authored by Kemol King, a journalist specializing in Guyana’s oil and gas sector.
