Latest update August 30th, 2026 10:03 AM
Hess earns US$3B from 15% Stabroek Block stake as Guyana 50% share brings in US$2.5B – 2025 financials reveal
(Kaieteur News) – Hess Corporation, an American oil company with 30% interest in the prolific Stabroek Block has recorded profits almost mirroring Guyana’s total earnings from the sector since production activities commenced in 2019.
The company’s financials were reviewed by Chartered Accountant and attorney, Christopher Ram who in this week’s oil and gas column, dissected the economic performance of the company.
According to his analysis, Guyana’s Natural Resource Fund (NRF) in 2025 recorded profit oil inflows of $451.2 billion, royalties of G$68.9 billion and G$3.1 billion from the signature bonus. Ram however pointed out, “Since inception, the NRF has accumulated approximately G$1.579 trillion from profit oil, G$232.9 billion from royalties and G$3.1 billion from the signature bonus, for total inflows of roughly G$1.815 trillion.”
Screenshot of the company’s financials for 2025.
According to the Bank of Guyana, fourth quarter 2025 NRF Report, Guyana earned US$8,521,242,524 since production began in 2019. The report adds that payments for three lifts in December 2025, amounting to US$184,113,704 were outstanding. This would have increased the country’s earnings up to the end of 2025 to US$8,705,356,228.
A look at the oil company’s financials indicates that its total profits between 2019 and 2025 reached GY$1.741 trillion or approximately US$8.7B (at a $200 exchange rate) – almost the same amount the country received during the period. The document states that for 2025, Hess earned GY$605B or US$3B. Notably, during the same period Guyana received about US$2.5B.
Ram explained, “Hess Guyana’s accumulated surplus alone – GY$1.741 trillion – is now almost equal to the total petroleum revenues Guyana has received through the NRF since oil production began. Put differently, the retained profits of a single foreign oil company are approaching the entire sum deposited into Guyana’s sovereign wealth fund.”
Map of the Stabroek Block showing the four projects currently producing oil and the fifth development that is expected to come on stream later this year.
The lawyer was keen to note that this is particularly striking as Hess holds only 30% interest in the Stabroek Block. ExxonMobil holds 45% and CNOOC 25%, meaning the consortium’s combined earnings are vastly larger when compared to Guyana’s earnings. The country, according to the 2016 Petroleum Agreement is entitled to 50% of the profits generated in the Stabroek Block. This therefore raises questions about the accounting mechanism applied in allocating the resources.
Ram pointed out that accounting disclosures, unresolved audit issues and opaque financial reporting surrounding the other companies make any simple extrapolation risky.
In accordance with the PSA, ExxonMobil takes 75% of production to cover petroleum related expenses in the Stabroek Block. The remaining 25% is split between Guyana and the contractor as profits, with the country receiving 12.5% and the company receiving 12.5%. Guyana also receives 2% of gross production in royalty.
These fiscal terms have often been condemned with Guyanese demanding a fairer share of its resources.
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- Guyana, Guyana Oil, Hess, NRF, oil, OilProfits, profits, revenue
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