Latest update March 12th, 2026 9:56 PM
NRF saw record US $683.5M in oil revenue in last quarter of 2025
(Kaieteur News) – The Natural Resource Fund (NRF) received record inflows of oil revenue totaling US $683,532,551 in the final quarter of 2025.
Receipts published by the Ministry of Finance in the official gazette, in accordance with the NRF Act of 2021, indicated that the fund was deposited into the account.
The revenue includes 10 payments of profit oil, one royalty payment relating to production from the third quarter and monies from the signing bonuses government negotiated for two shallow water oil blocks, offshore Guyana.
According to the receipt, a US$15 million signing bonus was paid in three parts, while the third quarter royalty totaled US$83,221,024.
Finance Minister: Dr. Ashni Singh
The fourth quarter earnings have pushed Guyana’s total oil revenue received for the year to a whopping US$2,473,718,141.
Notably, government initially projected to earn an estimated US$2.2 billion in profit oil and US$340.6 million in royalties by the end of 2025.
It was reported that during the first quarter of this year, the fund received payments totaling US$605,462,893. Meanwhile, in the second quarter of the year, another US$617,955,248 was deposited into the account, followed by US$565M in the third quarter of 2025.
Government anticipated that there would be 246 lifts of profit oil from the Stabroek Block in 2025- each lift is equivalent to one million barrels of oil. Within this, government projected to have 31 lifts of profit oil from the four Floating Production Storage and Offloading vessels (FPSOs) currently operating offshore Guyana.
Be that as it may, Finance Minister Dr. Ashni Singh tempered the expectation of Guyanese with regard to revenue flow from the sector. During the presentation of Budget 2025, he indicated that although Guyana’s daily production is expected to climb, the country will see a decrease in earnings from the sector, as a result of a projected 10.9% decline in oil price.
He said, “Oil prices contracted by 2.3 percent to average US$80.7 per barrel in 2024, primarily due to slowing global demand, particularly in China.”
The minister noted that this trend is expected to continue as “crude oil prices are forecasted to decline by a further 10.9 per cent to US$71.9 per barrel, with global supply expected to exceed demand.”
Consequently, he explained that government’s petroleum revenue deposits are projected to be 2.6 percent lower than in 2024.
Kaieteur News reported that in 2024, an average of 225.4 million barrels of crude oil was produced, with the sector recording 57.7% growth that year. At an average oil price of US$80.7 per barrel in 2024, Guyana earned US$2.6B from oil production.
In accordance with the 2016 Production Sharing Agreement (PSA), Guyana receives 2% of oil produced sold in the Stabroek Block. It also receives a profit share, equivalent to 12.5% after ExxonMobil deducts 75% monthly towards expenses and takes another 12.5% as its profit.
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