Guyana Tops US$1B Oil Revenue
Guyana received more than US$1 billion from its share of profit oil in the first half of 2025, driven by 15 lifts from three producing FPSOs. Finance Ministry projections now forecast 33 government lifts this year, higher petroleum deposits than budgeted and an estimated NRF closing balance of about US$3.2 billion at year-end.
Guyana received more than US$1 billion in revenue from its share of profit oil in the first half of 2025, the Finance Ministry reported, as the country’s offshore oil development continues to accelerate. The ministry said there were 15 lifts of profit oil in the first half of 2025 from the three producing FPSOs: Liza Destiny (3), Liza Unity (6) and Prosperity (6).
The H1 payments included proceeds for two lifts that occurred in the final quarter of 2024 and 13 of the 15 lifts that took place during the first six months of 2025. In July, the government received US$140.5 million for two government lifts executed in June. Separately, Guyana collected US$169.6 million in royalties related to crude production and sales covering the final quarter of 2024 and the first quarter of 2025.
Interest income of US$68.9 million contributed to a cumulative balance of US$3,192.2 million (about US$3.19 billion) in the Natural Resource Fund (NRF) at the end of June, after withdrawals totalling US$1.2 billion. The Finance Ministry said the government had originally expected 31 lifts from the Stabroek Block for the year but now projects 33 lifts following the earlier-than-anticipated start-up of the One Guyana FPSO in August.
With the additional lifts, petroleum deposits for the year are projected at US$2,512.4 million—only marginally higher than the US$2,503 million estimated in Budget 2025, the ministry said, attributing the modest increase to lower crude oil prices. Overall, the government is now expected to earn more than US$2.1 billion from the sale of Guyana’s share of profit oil in 2025, plus US$341.2 million in royalties.
Under the NRF Act 2021, US$2.4 billion is expected to be withdrawn from the fund this year, leaving an estimated NRF closing balance of just over US$3.2 billion at the end of 2025. The ministry also reported the oil and gas sector expanded by an estimated 5.5 percent in the first half of 2025, with production of 115.7 million barrels compared with 113.5 million barrels for the same period in 2024.
What this means for the British Virgin Islands: Guyana’s continued revenue gains and faster production timeline could have regional economic implications. Increased government receipts and activity in Guyana may expand opportunities for Caribbean maritime services, offshore logistics, and financial services providers clustered in the region, including in the BVI.
At the same time, the scale of new oil wealth underlines the importance of transparency, fiscal discipline and regional cooperation to manage revenue volatility and potential inflationary pressures. BVI businesses and policymakers will likely monitor Guyana’s spending plans and investment flows for opportunities and risks across the Eastern Caribbean. (Information from a Finance Ministry report as reported by Virgin Islands News Online.)
Primary source: VINO