Guyana earns almost US$2B from oil in first half of 2026

July 8 (oilnow.gy) Guyana received just under US$2 billion in petroleum revenues during the first six months of 2026, according to official notifications published in the Official Gazette.

The two Gazette notifications show that US$1.996 billion was deposited into the Natural Resource Fund (NRF) between January and June through profit oil and royalty payments generated from crude production offshore Guyana.

US$1.779 billion, representing nearly 90% of those receipts, came from Guyana’s share of profit oil, while the remaining US$218.4 million was earned through royalty payments. The royalty receipts comprised US$110.9 million deposited in January and a further US$107.5 million received in April.

The first Gazette notification records US$761.7 million in receipts deposited between January and March. A second notification, published in July, shows another US$1.24 billion received between April and June, bringing first-half inflows to nearly US$2 billion.

Under the Production Sharing Agreement (PSA) governing the prolific Stabroek Block, Guyana receives a 2% royalty on all petroleum produced and a 50% share of profit oil, with both revenue streams deposited into the Natural Resource Fund. Profit oil represents the value of crude remaining after recoverable petroleum costs have been allocated in accordance with the PSA.

The NRF, established under the Natural Resource Fund Act, functions as Guyana’s sovereign wealth fund. All petroleum revenues are first paid into the Fund before transfers are approved through the national budget. The framework is intended to promote transparency in the management of oil revenues while supporting long-term fiscal stability and intergenerational savings.

The latest receipts come as Guyana’s offshore oil industry continues to expand at a remarkable pace. Four floating production, storage and offloading (FPSO) vessels, namely Liza Destiny, Liza Unity, Prosperity and ONE GUYANA, are now producing in the Stabroek Block, lifting national crude output to an average of more than 900,000 barrels per day (b/d) during the first half of 2026.

Production is expected to increase again before the end of the year with the planned start-up of the Uaru development, which will become Guyana’s fifth producing offshore project. The additional capacity is expected to push national production beyond one million b/d.

Guyana’s petroleum revenues have grown rapidly since first oil was achieved in December 2019. Successive project start-ups have transformed the country into one of the world’s fastest-growing oil producers, with offshore developments continuing to advance under operator ExxonMobil and partners Hess and CNOOC.

The government has increasingly relied on transfers from the Natural Resource Fund to finance major investments in infrastructure, healthcare, education, housing, and energy, while the Fund continues to accumulate revenues from expanding offshore production.