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Guyana to close 2025 with over US$3.2B in oil account
(Kaieteur News) – With more oil being produced in the prolific Stabroek Block, with the early startup of the fourth Floating Production Storage and Offloading (FPSO) vessel, Guyana is expected to close 2025 with over US$3.2B in oil revenues.
This information is contained in the 2025 Mid-Year report, published by the Ministry of Finance.
At the beginning of the year, it was anticipated that the country would have earned US$2,503 million however; the country’s daily capacity has been increased, resulting in a small hike in revenue from the sector.
President Irfaan Ali
Currently, Guyana is producing over 900,000 barrels per day (bpd) from the four FPSOs in the Stabroek Block.
The Mid-Year report explained, “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 Budget 2025, on account of lower crude oil prices.”
Notably, at the time Budget 2025 was prepared, government expected to receive 31 lifts of profit oil from the Stabroek Block. Each lift is equivalent to about one million barrels of oil. Government is now projected to benefit from 33 lifts this year, following the earlier-than-anticipated start-up of the One Guyana FPSO in August.
“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 Further, in accordance with the NRF Act 2021, US$2,463.9 million is expected to be withdrawn from the Fund this year,” the Mid-Year Report outlines.
As such, Guyana is expected the close 2025 with a total of US$3.248B in oil revenue.
Recently, leader of the People’s National Congress Reform (PNC/R), Aubrey Norton shared the view that a portion of oil revenue should be used to pay public servants. He reasoned, “I am of the view that some amount of resources from oil should go to funding public servants and once that is done with expansion in the non-oil sector and ensuring more businesses come on stream then it (salary increase) is sustainable.”
Norton was at the time making a case for government to pay a 25% salary increase in employees in the public service. With just a few days remaining before Christmas, the government has not announced a salary increase or bonus for public servants. President Irfaan Ali on Thursday however announced a one-month tax-free bonus for members of the joint services.
The announcement came a day after the President’s address to the nation where he signaled that no cash grant will be forthcoming before Christmas, despite hinting at a cash transfer during his 2025 elections campaign.
Public servants such as doctors, nurses and teachers will be expected for the first time in years to meet holiday expenses without any additional revenue from government to cushion their high expenses.
Meanwhile, former advisor to the Leader of the Opposition, Elson Low argued that millions of US-dollars wasted by government on the Gas-to-Energy (GTE) project as well as revenue the state is yet to recover from ExxonMobil could have financed a $100,000 cash grant to adult Guyanese.
He pointed to three areas that could have saved Guyana at least US$300M which in turn could have been used to finance the initiative, since this was the cost of the previous cash grant.
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