
Guyana received a total of US$2.6 Billion in oil revenues and royalties in 2024, the Minister responsible for Finance disclosed today, as he presented the 2025 National Budget.
The funds were deposited into the Natural Resource Fund (NRF).
“Deposits into the NRF in 2024 amounted to US$2.6 Billion. The fund received US$2.2 Billion in profit oil. Of the US$2.2 Billion, US$557.5 Million related to Destiny; US$869.2 Million to Unity; and US$796.3 to Prosperity,” Dr. Ashni Singh detailed.
Minister Singh explained that in 2024, there were 225 lifts of crude oil from Guyana’s three Floating Production, Storage and Offloading (FPSO) vessels. Of that number, 28 lifts of crude oil went to the Government of Guyana.
“Profit oil payments in 2024 corresponds to two lifts that occurred in the final quarter of 2023 and 26 that occurred in 2024. And it is anticipated that payment for two of the lifts that occurred in December 2024, will be received in January 2025,” the Finance Minister explained.
Additionally, the Government received US$348 Million in Royalties from the Stabroek Block operator in 2024.
He noted that in keeping with the amount approved by the Parliament in 2024, just under US$1.6 Billion was withdrawn from the NRF to finance development projects across the country.
At the end of 2024, the NRF had a balance of US$3.1 Billion.
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