Guyana received G$162.3 Billion in oil revenues and royalties during the second quarter of 2024, according to a notification of receipts presented to the National Assembly today by Senior Minister with responsibility for Finance, Dr Ashni Singh.
Minister Singh told the National Assembly that the petroleum revenues were paid into the Natural Resource Fund during the period March 29, 2024 and June 30, 2024, in accordance with the Natural Resource Fund Act 2021.
According to the notice, Guyana received a total of eight payments in oil revenues based on lifts of crude oil earned as profit.
On April 8, G$17.464 Billion was deposited into the Natural Resource Fund based on a lift of profit oil executed on March 8 from Liza Unity FPSO.
Subsequent lifts amounting to G$18.590 Billion and G$17.020 Billion were executed on April 13 and May 11 from the Liza Unity FPSO, and paid into the Fund.
Three other lifts of profit oil executed on March 14, April 23 and May 11 from the Prosperity FPSO totaled approximately G$52.515 Billion.
Additionally, G$36.149 Billion was paid into the Natural Resource Fund based on lift of profit oil executed on April 13 and May 29 from the Liza Destiny FPSO.
Guyana also received $20.604 Billion in royalty from ExxonMobil and its co-venturers, based on production during the first quarter of 2024.
Royalties are paid on a quarterly basis, 30 days following the end of each calendar quarter.
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