(Kaieteur News) – A staggering US$15B in oil was exported from Guyana during the first months of 2026, 40% more when compared with the same period last year.
The Bank of Guyana half year report for 2026 states, “Crude oil export earnings amounted to US$15,053.7 million, US$6,787.6 million higher than the same period one year ago.”
Central Bank pointed out that the increase earnings were as a result of more oil leaving the country and higher prices during the period.
Kaieteur News understands that 162.4 million barrels of oil were exported during the first six months of the year, compared with 116.1 million barrels one year ago – a 40% increase.
Meanwhile, BoG reported, “The average export price received for crude oil also increased by 30.1 per cent or US$21.45 to US$92.68 per barrel from US$71.23 per barrel one year ago.”
Chart showing the oil exported during the first six months of 2026 versus Guyana’s earnings.
But while a massive US$15 billion in oil left the country in six months, Guyana only received US$1.9 billion of the earnings from the sector.
According to Petroleum Receipts published by the Ministry of Finance and seen by this newspaper, Guyana got US$761M between January and March 2026. The country’s Natural Resource Fund (NRF) received an additional US$1.2B between April and June.
This is as a result of the deal Guyana signed with ExxonMobil and its partners in 2016. The deal allowed ExxonMobil to take up to 75 per cent of Guyana’s oil each month to pay for developments in the Stabroek Block. The remaining 25 per cent was split equally with Guyana and the contractor – meaning 12.5 per cent of profits came to the country and an additional 2 per cent royalty.
The formula has now changed as ExxonMobil has recovered its US$55 billion investments made in the country for the seven projects approved by government.
President Irfaan Ali announced that Guyana’s profit share has climbed significantly from 12.5 per cent to 39.8 per cent as operating costs still remain.
As expenses have been recovered, the head-of-state noted that the share of oil to repay costs have been reduced from 75 per cent to 20 per cent.
As a result, the NRF has recorded higher inflows since August this year. The BoG reported that in August alone, Guyana’s earnings were US$778 million using an exchange rate of $208 for one USD- more than the country received during the first quarter. Notably, the revenue for August included profit oil and a signing bonus payment.
Meanwhile, in September, the oil fund received another US$768 million for profit oil payments, taking the country’s total earnings for the year so far to US$3.5 billion.
During the presentation of this year’s budget, Finance Minister Dr. Ashni Singh revealed that Guyana is anticipated to earn US$2.8B billion. He explained, “Government is expected to earn approximately US$2.4 billion in profit oil and US$375.3 million in royalties. In addition, a signing bonus of US$17 million will be deposited for the new PSA signed for exploration activities in Block S7.”
Source: Kaieteur News
