ExxonMobil rakes in nearly US$10B in six months, while Guyana gets just US$1B

Nov 09, 2025 News, Oil & Gas

…Oil giant’s cost recovery almost doubles nation’s total debt as profits pour overseas

(Kaieteur News) – ExxonMobil Guyana Limited (EMGL), the operator of the prolific Stabroek Block, has recovered a staggering US$9.768 billion in just the first six months of 2025 — a figure that nearly doubles Guyana’s total national debt, which stood at US$6 billion at the end of 2024.

ExxonMobil rakes in nearly US$10B in six months, while Guyana gets just US$1B

EMGL President, Alistair Routledge

The Bank of Guyana (BoG) recently published its Half Year Report, following the publication of the Mid-Year Report by the Government of Guyana (GoG).

According to figures released by the Central Bank, Exxon recovered US$3,157B in the first quarter of 2025 and US$6,611.1B in the second quarter. This means the company utilised a total of US$9,768,100,000 for cost recovery in six months.

In keeping with the terms of the 2016 Production Sharing Agreement (PSA), EMGL is allowed to deduct 75% of oil produced each month to meet its expenses. In the absence of a ring-fencing provision, the company is not only paying for the projects currently in operation, but those that are yet to come on stream.

While stakeholders fear that the forecast of low oil price in the future will gravely affect Guyana’s ability to enjoy its wealth, the government has agreed to allow the company to maximise the revenues from the petroleum activities to benefit shareholders of the Stabroek Block partners.

As such, Guyana’s earnings from the sector in the first six months of the year paled in comparison to what the oil companies took.

According to the Mid-Year Report, the Natural Resource Fund (NRF) or the oil account barely received US$1B during the same period.

The report states, “In the first half of 2025, Government had 15 lifts of profit oil from the three producing FPSOs, Liza Destiny (3), Liza Unity (6) and Prosperity (6).” Each lift is equivalent to one million barrels of oil.

To this end, government reported, “During the period January to June 2025, Government received US$1,053.8 million as revenue from its share of profit oil. This included payments for two lifts that occurred in the final quarter of 2024, and 13 of the 15 lifts that occurred in the first six months of this year.”

It was also noted that in July, US$140.5 million was received as profit oil payments for the two Government lifts executed in June. Government also received US$169.6 million in royalties related to crude oil production and sales in the final quarter of 2024 and the first quarter of this year.

At the end of June 2025, the NRF contained (inclusive of interest income of US$68.9M) a total of US$3,192.2 million, after withdrawals of US$1,200 million.

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2025, Bank of Guyana, Cost Recovery, ExxonMobil, Mid-Year Report, oil profits

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