Guyana received payments for two cargoes of crude oil in September 2025, totaling US$133 million (approximately GY$28 billion). The shipments, lifted from the Payara and Liza 1 projects, reflect the continued strength of the country’s oil production profile and the steady flow of revenue to the Natural Resource Fund (NRF).
Of the 31 cargoes Guyana expects to receive and sell this year, 20 have been paid for up to the end of September. These payments amount to US$1.395 billion (GY$291 billion) from oil produced in 2025. When two additional payments received in January are included — for crude produced in late 2024 — total oil sales revenue deposited into the Fund this year stands at US$1.54 billion (GY$321 billion).
No royalty payments were made in September. Between January and August, the government collected US$163.3 million (GY$34 billion) in royalties from 2025 production. Including the royalty payment received in January for late-2024 crude, total royalty inflows for the year amount to US$248 million (GY$52 billion).
Combined oil sales and royalty inflows for the year now total US$1.79 billion (GY$373 billion).
The government made a US$200 million (GY$41.7 billion) withdrawal from the NRF during September, bringing total withdrawals for 2025 to US$1.4 billion. Parliament has approved total withdrawals of US$2.463 billion (GY$513 billion) for the year, meaning the remaining amount is expected to be drawn down during the final quarter.
After accounting for new deposits and withdrawals, the Natural Resource Fund closed September with approximately US$3.59 billion (GY$749 billion). The Fund continues to grow at a steady pace, buoyed by growing oil output and regular lift payments.
Oil production offshore Guyana remains robust and on an upward trajectory. Average output reached 685,000 barrels per day (b/d) in August, and is expected to exceed 700,000 b/d in the September production report, which is due later this month. With production from the Yellowtail development ramping up, total output is projected to reach around 900,000 b/d by the end of 2025. All production originates from the Stabroek Block, operated by ExxonMobil in partnership with Hess (acquired by Chevron) and CNOOC.
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.
