Guyana's Oil Ledger

Guyana's Oil Ledger

Guyana earned US$2.57 billion from oil in 2024

Kemol King -
Guyana received US$2.57 billion (GY$536 billion) in oil revenue in 2024, based on monthly and quarterly reports of the Natural Resource Fund (NRF). The amount is 59% more than the approximately US$1.62 billion (GY$337 billion) that the NRF received...
Guyana's Oil Ledger

Stabroek Block’s 2024 production exceeded 200 million barrels in November

Kemol King -
ExxonMobil Guyana sustained stable production at its Stabroek Block projects in November 2024, accumulating 205 million barrels since the year began, at an average rate of 612,000 barrels per day (b/d). The barrels are shared between Exxon, Hess, CNOOC...
Guyana's Oil Ledger

Guyana sold 24 million barrels of crude in 11 months

Kemol King -
Guyana’s marketers secured deals totaling US$1.929 billion in revenue for the sale of approximately 24 million barrels of crude in the first 11 months of 2024. The crude—taken from Liza 1, Liza 2 and Payara—sold at an average of US$80...
Guyana's Oil Ledger

Guyana oil production averaged 608,000 b/d in first 10 months of 2024

Kemol King -
Crude oil production at the ExxonMobil-operated Stabroek Block averaged 608,000 barrels per day (b/d) in the first 10 months of 2024. Combined output from the three projects—Liza 1, Liza 2 and Payara—have shown they can sustain 660,000 b/d. However,...
Guyana's Oil Ledger

Guyana government’s 2024 receipts from oil production exceed US$2 billion

Kemol King -
Guyana’s Natural Resource Fund (NRF) received more than US$2 billion in revenue projected this year and is set to receive several hundred million more by year-end.  The Fund received US$151.4 million in oil sales revenue in October, representing payments for...
Guyana's Oil Ledger

ExxonMobil Guyana reached new monthly production high in September

Kemol King -
ExxonMobil is gradually increasing production offshore Guyana reaching an average of 660,000 barrels per day (b/d). Liza 1 and 2 averaged approximately 160,000 b/d and 251,000 b/d, while Payara averaged 249,000 b/d. These production levels resulted in output of nearly...
Guyana's Oil Ledger

Guyana has received more than US$5 billion in revenue since first oil

Kemol King -
With nearly five years of oil production so far, Guyana has received more than US$5 billion in revenue from oil sales and royalties. With this new injection of revenue, the government has already withdrawn nearly half of this amount...
Guyana's Oil Ledger

Guyana crude output rebounds, closing August at 663,000 b/d

Kemol King -
After a July of shutdowns at the Liza field, crude oil production has returned to more than 600,000 barrels per day (b/d) in August.  The shutdowns for the connection of a natural gas pipeline lasted July 2-15 for Liza 2,...
Guyana's Oil Ledger

Guyana oil fund about to hit US$3 billion mark for the first time

Kemol King -
The balance of Guyana’s Natural Resource Fund (NRF) was US$2.94 billion at the close of August, with the government recently estimating it will close the year at US$3.15 billion. The administration has revised its projection of revenue from oil production...
Guyana's Oil Ledger

Shutdowns for pipeline hook-up cut Guyana crude output to 427,000 b/d in July

Kemol King -
Crude oil production at the ExxonMobil-operated Stabroek Block decreased significantly in July due to temporary shutdowns at the Liza field. Government data shows output at 427,000 barrels per day (b/d) in July, down 34% from 644,000 b/d in June. Monthly...
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Latest News

NewsKemol King -

Guyana gov’t can withdraw up to 96% of last year’s oil earnings in 2025 budget

The Guyana government can withdraw 96% of its 2024 earnings from the oil sector, based on the withdrawal rule...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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