Guyana is expected to earn US$2.5 billion in oil revenues for 2025, largely due to receiving more profit oil from the Stabroek block. This is according to the 2025 mid-year report released by the Ministry of Finance on Monday.
Profit oil refers to the barrels of oil that the government is entitled to after ExxonMobil and its partners (Chevron and Hess) have sold a specified portion to cover the costs incurred on a monthly basis for exploration, development, and production. When Guyana receives its share of oil profit, it is sold to the international market.
The report notes that at the beginning of the year, it was anticipated that the government would have 31 lifts of profit oil from the Stabroek Block. Each lift is equivalent to approximately one million barrels of oil. The government is now projected to have 33 lifts this year, following the earlier-than-anticipated start-up of the One Guyana FPSO in August.
With the additional lifts, petroleum deposits for the year are now projected to total US$2,512.4 million, only marginally higher than the US$2,503 million projected at the time of preparing the budget 2025. Authorities stated that this initial projection was due to lower crude oil prices. The government is now expected to earn US$2,171.2 million from the sale of Guyana’s share of profit oil, and US$341.2 million in royalties.
Further, in accordance with the Natural Resource Fund (NRF) Act 2021, US$2.5 billion is expected to be withdrawn from the Fund this year. Consequently, the NRF’s closing balance is estimated to stand at US$3.2 billion at the end of 2025.