Guyana received US$228 million (GY$48 billion) in oil revenues in October, according to the latest update on the operations of the Natural Resource Fund (NRF).
The month’s inflows to the Fund comprised US$83 million (GY$17 billion) in royalties from crude produced and sold in the third quarter, along with approximately $145 million (GY$30 billion) in payments for the purchase of government-entitled crude.
The October deposits bring total 2025 oil sales revenue received so far to US$1.69 billion (approximately GY$351 billion), which includes two additional payments received in January for cargoes produced and sold in late 2024. Meanwhile, 22 of the 33 projected cargoes allocated to the State for 2025 have been sold and paid for, amounting to US$1.54 billion (GY$321 billion). The government revised its original estimate from 31 to 33 cargoes in its mid-year economic report, due to a faster than expected start-up and ramp-up of the Yellowtail project.
Guyana’s October crude oil exports went to 14 countries | OilNOW
Royalty inflows for the year, covering crude produced in Q4 2024 and Q1 to Q3 2025, have now reached US$331 million (GY$69 billion). In total, deposits made into the Fund in 2025 from both royalty payments and crude sales stand just above US$2 billion (GY$420 billion).
The October report also recorded a US$200 million (GY$42 billion) withdrawal from the NRF, adding to the amounts withdrawn earlier in the year. With US$1.6 billion withdrawn to date, the government remains within the US$2.463 billion (GY$513 billion) approved by Parliament for 2025, leaving the balance expected to be drawn in November and December.
China’s first taste of Guyana’s Golden Arrowhead crude heads to Huizhou | OilNOW
After accounting for new inflows and withdrawals, the NRF closed October with a balance of approximately US$3.6 billion (GY$758 billion).
The update comes as Guyana’s offshore production reached 900,000 barrels per day (b/d) in November, driven by the ramp-up of the Yellowtail development to its nameplate capacity of 250,000 b/d. All output comes from ExxonMobil’s Stabroek Block operations, conducted in partnership with Hess (acquired by Chevron) and CNOOC.
