Guyana began selling offshore crude less than a decade after its first discovery. Today, the “Land of Many Waters” produces more than 900,000 barrels of oil per day (b/d) at the ExxonMobil-operated Stabroek Block. But once that oil leaves the floating production, storage, and offloading (FPSO) vessels, where does it go—and what happens next? How does Guyana’s crude flow into the global energy market, and why is the world paying attention?
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From offshore barrels to global tankers
Crude oil produced offshore in Guyana’s Stabroek Block is loaded onto tankers after being processed and stored on FPSOs. Since beginning exports in early 2020, Guyana has rapidly expanded its role as an oil exporter, sending 260 million-barrel crude cargoes in 2025 alone. This made the South American nation the fifth-largest crude exporter in Latin America.
Four FPSOs, including the newest ONE GUYANA, producing the Golden Arrowhead grade, contribute to rising capacity.
Crude on the move — where it lands
European refiners have been particularly significant consumers of Guyanese oil. Traders and shipping data examined by Reuters indicate that European demand helped lift exports to around 582,000 bpd in 2024 as refiners sought easy‑to‑process light sweet crudes to replace heavier grades.
OilNOW’s own tracking confirms that the bulk of Guyana’s shipments go to Europe. Panama and the Netherlands have been the largest buyers over an extended period. Tracking in December 2025, for instance, shows that Panama, Italy and the Netherlands took the highest quantities of cargoes, while others went to typical destinations like the United States, the United Kingdom, Spain, and the less frequent China. Single cargoes also went to Turkey, Canada, Greece, Poland, Germany, Malaysia, Brazil, and the Bahamas.
The United States has absorbed growing volumes of Guyana’s crude over several years. According to data from the U.S. Energy Information Administration, U.S. crude imports from Guyana rose to record levels in 2025, averaging nearly 200,000 bpd through the first ten months of the year — placing Guyana among the top five net sources for U.S. crude in several months.
How Guyana’s oil enters the market
The Guyana government hires marketing firms to secure the best rates for its share of the crude that ExxonMobil produces. Once those firms secure the best rates, the cargoes are shipped and the payments are deposited into the Natural Resource Fund. ExxonMobil and its co-venturers get their own share of the crude and may sell or refine the crude themselves.
Major trading companies and refiners book cargoes based on price, quality, and logistical factors.
Ports such as Rotterdam in the Netherlands act as trading hubs, where tankers may offload cargoes for further delivery to refineries across Europe, Africa, or Asia. Panama often serves as a transshipment point, where crude may be reloaded or routed onward.
Why do importing countries buy Guyana’s crude
Importing countries buy Guyana’s oil for several reasons. Light to medium sweet crude is easier and cheaper to refine into fuels and petrochemicals compared with heavier, sour grades. It becomes fuel for cars, feedstock for industry, and part of broader energy security strategies across regions.
For the U.S., increasing imports from Guyana contributes to diversified supply sources, reducing reliance on a narrower set of exporters and enhancing energy security.
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As production capacity expands toward targets of over 1 million b/d with new projects, Guyana’s role in the international market is likely to deepen.
