Guyana Earns Record US$761M in Oil Revenue in Q1 2026

• Guyana has earned over US$761Mn in the first three months of 2026, marking its highest quarterly earnings on record since production activities commenced in December 2019.
• According to the petroleum receipts, earnings were supported by 10 profit oil payments made between December 30, 2025, and March 31, 2026, along with one royalty payment relating to 2025 fourth quarter production amounting to US$110.89Mn, as oil prices remained above US$100 per barrel.
• Total profit oil payments during the quarter reached US$650.82Mn, while overall inflows into the Natural Resource Fund, including profit oil and royalty, amounted to US$761.72Mn, reflecting strong revenue inflows under elevated oil price conditions.
• Under the 2016 Petroleum Agreement, Guyana receives 2% royalty and 12.5% of profit oil, while 75% is deducted by ExxonMobil for cost recovery, after which the remaining balance of crude oil is shared equally (50/50) between the Government and the Contractor, in line with Article 11 provisions.
• Production remains robust, with four Floating Production Storage and Offloading vessels (FPSOs) in the Stabroek Block producing a combined ~916,000 barrels per day (bpd), including Liza One (~130,000 bpd), Liza Unity (~265,000 bpd), Prosperity (~265,000 bpd), and One Guyana (~260,000 bpd), while ExxonMobil has expended US$40Bn to develop seven approved projects, with US$5Bn remaining in the cost bank.
• Higher oil prices are accelerating cost recovery, meaning ExxonMobil is repaying costs faster, which could result in a significant increase in Guyana’s share of revenues from crude sales, moving beyond the roughly 14.5% currently received into the Natural Resource Fund, and strengthening the country’s fiscal position over time.

(Source: Kaieteur News)