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Guyana gets US$761M in oil revenue in first quarter of 2026
By Davina Bagot
(Kaieteur News) – Guyana has earned over US$761M in the first three months of 2026, a new milestone since production activities commenced in December 2019.
The first quarter earnings were published by the Ministry of Finance earlier this month in accordance with the provisions of the Natural Resource Fund Act of 2021.
According to the Petroleum receipt seen by this newspaper, Guyana’s quarterly earnings reached its highest on record, as oil prices remain above US$100 per barrel.
The Natural Resource Fund receipt for the first quarter of 2026
The document indicates that a total of 10 profit oil payments were made between December 30, 2025 and March 31, 2026. During the period, one royalty payment, relating to 2025 fourth quarter production was made, amounting to 110,893,513.30.
Total profit payments during the quarter reached US$650,822,819.62.
Overall flows into the NRF, including profit oil and royalty was US$761,716,332.92.
In accordance with the 2016 Petroleum Agreement, Guyana receives 2% royalty and 12.5% of profit oil as 75% is deducted by Exxon for costs and enjoys another 12.5% as profits.
Currently, Guyana has four Floating Production Storage and Offloading vessels (FPSOs) producing oil in the Stabroek Block. The vessels are producing a combined total of about 916,000 barrels of oil per day (bpd) according to the contractor and operator of the block, ExxonMobil Guyana Limited (EMGL).
The Liza One project, operated by the Destiny FPSO is currently producing about 130,000 bpd, while the Liza Unity FPSO is producing about 265,000 bpd.
Prosperity, the third FPSO, according to data published by the Ministry of Natural Resources is producing approximately 265,000 bpd and finally, the One Guyana FPSO at the Yellowtail project is producing an average 260,000 bpd.
Last month, ExxonMobil revealed plans to further increase oil production at the fourth project, which came online in August last year.
As a result of the high oil prices, Exxon has said that the country has been repaying costs faster, which will result in the country receiving a higher portion of revenue from crude sales.
The 2016 PSA states at Article 11 that the Contractor (ExxonMobil) shall bear and pay all costs incurred in carrying out petroleum operations and shall recover these costs on a monthly basis at a rate of 75% of total production.
Following the recovery of all costs, Article 11.4 provides “The balance of crude oil…shall be shared between the Government and the Contractor for each Field in the following proportions: Contractor fifty percent (50%) and Minister fifty percent (50%).”
So far, ExxonMobil has expended U.S.$40B to develop the seven oil projects approved to date. Currently, U.S.$5B remains in the cost bank to be recovered by the company.
The Country Manager of ExxonMobil, Alistair Routledge said, “If you stay at the current oil price then it will happen this year based on the level of expenditures and the production that we anticipate so that’s a significant acceleration. What that then means is that instead roughly the 14 and a half percent that the country has been receiving by way of revenues into the Natural Resource Fund from the Stabroek production and revenues, what will happen is that percentage will significantly increase.”
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