Guyana's Oil Ledger

ExxonMobil Guyana reached new monthly production high in September

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

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 With this new injection of revenue, the government has already withdrawn nearly half of this amount...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 crude output rebounds, closing August at 663,000 b/d

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

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...

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

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...

Guyana on course to boost oil money spending by almost half in 2025

The Guyana government is on course to withdraw US$2.3 billion in oil revenue from its Natural Resource Fund (NRF) in 2025 to support that year’s budget. This would represent a 46% increase from the almost US$1.6 billion amount approved...

Payara soars, boosting Guyana’s oil production outlook 

Oil production at ExxonMobil’s Payara development has been optimized in record time, delivering oil output in excess of 250,000 barrels per day (b/d) in its eighth month of production. Payara, which achieved first oil in November 2023, first reached its...

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Guyana to jostle with OPEC, other players for more market share in 2025 – S&P

Guyana is expected to compete with some of the world's largest crude oil suppliers, including from the Organization of...