Guyana earned just over US$191 million (GY$40 billion) from the sale of three oil cargoes (each about a million barrels) in June, bringing total crude oil sales for the year so far to approximately US$1.05 billion (GY$219.7 billion).
The June cargoes each earned between US$63 million and US$64 million (GY$13.1 billion – GY$13.4 billion), reflecting prices in the $60 per barrel range.
Royalties received this year amount to US$169.6 million (GY$35.4 billion), representing payments for crude produced in the fourth quarter of 2024 and the first quarter of 2025. Considering royalties for crude produced in 2025 only, Guyana has received 25% of the approximately US$341 million (GY$71 billion) it expects in 2025 royalties.
Combined with oil sales, total oil revenues received by the government in the first half of 2025 now stand at approximately US$1.22 billion (GY$255 billion).
The government withdrew another US$400 million (GY$83.4 billion) from its oil fund in June, taking total withdrawals so far this year to US$1.2 billion (GY$250.2 billion) – nearly 50% of the US$2.463 billion (GY$513 billion) approved by Parliament for withdrawal in 2025. Previous drawdowns included US$400 million each in the first quarter and in April. No withdrawals were reported for May.
So far this year, Guyana has received payments for 15 cargoes, but two of these were for crude produced in 2024. This means the country has been paid for 13 of the 31 cargoes it projects it is entitled to in 2025 – roughly 42% or about US$908 million (GY$189 billion) of its full-year entitlement.
Payments for another 18 cargoes are still expected in the second half of the year, with some spillover to next January likely.
The Guyana government reported crude oil production averaging 667,000 barrels per day (b/d) in May across the Stabroek Block. Output is expected to increase later this 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 projected 246 cargoes to be exported from the block, up from 225 cargoes in 2024.
At the end of June, the Natural Resource Fund balance stood at approximately US$3.192 billion (GY$665.6 billion), with this revenue continuing to serve as a critical pillar in financing Guyana’s development ambitions.
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.
