Guyana’s Natural Resource Fund (NRF) has surpassed the US$1 billion mark in crude oil revenue deposits this year through May 2025, as robust production from the ExxonMobil-led Stabroek Block continues to provide money for the government’s national development priorities.
The most recent deposit in May was approximately US$130 million from the sale of two crude cargoes. With this addition, total revenues received so far in 2025 from the sale of crude oil produced this year stand at US$716.2 million, from 10 million-barrel cargoes.
The government also received US$85.4 million in April as royalty for oil produced and sold in the first quarter of 2025. This brings the total 2025 oil revenue received for current-year production to US$801.6 million.
This figure represents 32% of the US$2.5 billion in oil revenues the government expects to earn in 2025.
Separately, Guyana received oil sales revenue and royalties in January, linked to crude produced in the fourth quarter of 2024. Including those payments, total inflows into the NRF in 2025 now stand at approximately US$1.03 billion.
In terms of withdrawals, the government has taken US$800 million from the NRF so far this year — US$400 million in the first quarter and another US$400 million in April. No withdrawals were reported for May. The government will withdraw a total US$2.463 billion from the fund this year, a sum approved by Parliament.
At the end of May, the balance of Guyana’s Natural Resource Fund stood at approximately US$3.39 billion (GY$706 billion).
All oil revenues are derived from production at the ExxonMobil-operated Stabroek Block, which includes Hess and CNOOC as partners. Exxon recently reported that production across the block has reached approximately 668,000 barrels per day, and this is expected to increase later in the year when the Yellowtail project comes online in the third quarter.
Guyana’s 31-cargo share of production this year is its entitlement from a total projected 246 cargoes to be exported from the block. This is up from 225 cargoes in 2024, with the growth mainly driven by the planned addition of Yellowtail.
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.
