Guyana collected US$77.9 million (GY$16.2 billion) in royalties from ExxonMobil, Hess (acquired by Chevron) and CNOOC, for crude produced and sold offshore during the second quarter of 2025, according to the latest Natural Resource Fund (NRF) report.
This brought royalty receipts for the first half of the year to US$163.3 million (GY$34 billion).
When added to the royalty payment made in January for oil produced in the final quarter of 2024, the total royalties deposited into the NRF so far this year amount to US$247.5 million (GY$51.6 billion).
Beyond royalties, July also saw the deposit of US$140.5 million (GY$29.3 billion) for the government’s share of oil sales, reflecting proceeds from two cargoes of about one million barrels each. Together, royalties and oil sales lifted the July inflows to US$218.3 million (GY$45.5 billion).
Since the start of 2025, cumulative oil sales have reached US$1.19 billion (GY$249 billion). This total includes not only 2025 production but also payments for two cargoes of crude produced at the end of 2024. Of the 31 cargoes Guyana expects as part of its entitlement this year, 20 have already been sold and paid for by the end of July.
Average oil production for the first six months of 2025 stood at 639,000 barrels per day (b/d), with output averaging 664,000 b/d by June. Production is set to accelerate further, with capacity expected to soar toward 900,000 b/d once the Yellowtail project ramps up. Guyana’s 31 cargoes this year are drawn from a projected 246 cargoes to be exported from the Stabroek Block, up from 225 last year.
By the end of July, the NRF balance had climbed to US$3.42 billion (GY$713.6 billion), reflecting the steady pace of inflows from both royalties and sales. No withdrawals were reported in July.
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.
