Guyana received $159B in oil revenues in 1st quarter of 2026

…as NRF balance stood at US$4.1B at end of April

In the first three months of 2026, Guyana earned approximately GY$159 billion (US$761.7 million) in oil revenues. According to the Fund’s first quarter report produced by the Bank of Guyana, the monies received between January and March 2026 were paid into the Natural Resources Fund (NRF), which is being held at the New York Federal Reserve Bank in the United States (US). During the quarter, the Fund accounted for total inflows to the tune of GY$159,090,651,096.43 (US$761.7 million), comprising profit oil – GY$135.9 billion (US$650.8 million) – and royalties – GY$23.2 billion (US$110.89 million). These revenues earned between January and March were from four Floating Production Storage and Offloading (FPSO) vessels – Liza Destiny (Liza Phase One Project), Liza Unity (Liza Phase Two), Prosperity (Payara Project), and One Guyana (Yellowtail Project) – being operated by US oil major ExxonMobil and its co-venturers in the prolific Stabroek Block offshore Guyana.
However, Senior Minister with Responsibility for Finance, Dr Ashni Singh, on Friday reported that “at the end of April 2026, the balance in the NRF stood at US$4.1 billion.” Dr Singh had presented to the National Assembly earlier on Friday the notification of receipts to the National Assembly of all petroleum revenues paid into the NRF during the period December 30, 2025, to March 31, 2026, pursuant to Section 33 (2) of the NRF Act 2021.

This notification was published in the Official Gazette on April 2, 2026, and demonstrates the Government’s continued commitment to the principles of transparency and accountability in the management of Guyana’s oil wealth. Moreover, pursuant to the NRF Act 2021, as amended by the Fiscal Enactments (Amendment) Act 2024, Parliamentary approval has been granted for some GY$495 billion (US$2.374 billion) to be withdrawn from the NRF in 2026. Already, during the first quarter, GY$83,400 million (US$400 million) was transferred from the fund to the consolidated fund account, representing 16.85 per cent of the estimated amount budgeted to be withdrawn in this year.

Transparent management
According to the Finance Ministry, the People’s Progressive Party/Civic (PPP/C) Government remains committed to managing Guyana’s oil wealth transparently and responsibly, ensuring it serves both present and future generations.
Meanwhile, Guyana’s transparent and accountable management of its oil resources has been lauded by major global institutions. In its Staff Concluding Statement of the 2025 Article IV Mission, the International Monetary Fund (IMF) commended the Government of Guyana on the progress made to strengthen the management of oil wealth and its fiscal transparency.
“The authorities have advanced in enhancing governance of the NRF and modernising public sector operations. The 2023 NRF and Public Accountability and Oversight Committee Annual Reports have been presented to the National Assembly; regular notifications of receipts of petroleum revenues, as mandated by law, are published in the Official Gazette and presented to the National Assembly; and the Bank of Guyana publishes monthly and quarterly reports of the NRF’s financial performance,” the IMF had stated.
At the beginning of 2026, the NRF had a balance of US$3.25 billion, the Finance Minister had reported in January during the presentation of the 2026 national budget. He had noted that the fund recorded inflows last year of more than US$2.4 billion, driven largely by the increased production of crude oil offshore in the Stabroek Block along with other petroleum-related payments, including royalty payments for two new oil contracts signed late in 2025. But though Guyana inked two new oil contracts, one of the operators, Ghana-based Cybele Energy, is yet to pay its US$17 million signing bonus for oil block S7 that was awarded to it during the 2022 auction.
Only on Tuesday, Natural Resources Minister told reporters that the company has now racked up nearly US$4 million in default interest, adding that a warning has been issued to Cybele to pay up or forfeit its licence. In response, the company has promised to pay 30 per cent into the NRF by the end of this week.

NRF Investments
Nevertheless, with more than US$4.1 billion in the NRF in April – a figure that has likely gone up and is expected to further grow – the Guyana Government is looking to invest some of the revenues earned from its burgeoning oil and gas sector in other economies.
This was revealed by President Dr Irfaan Ali last month while addressing the Maple Leaf Gala hosted by the Guyana-Canada Business Chamber in Toronto.
According to the Guyanese leader, for the first time in its history, Guyana is moving closer to opportunities that would allow the country to invest in other economies.
“In our sovereign fund, our National Resource Fund, we now have to find investment opportunities. And as the fund grows, we will be looking at opportunities that are safe, give you a decent rate of return, and importantly, invest in countries and economies that share the same values, where rule of law and predictability are important factors in the way to do business,” President Ali had stated.
Currently, the four FPSO vessels are producing more than 900,000 barrels of oil per day (bpd) in the Stabroek Block, and production is expected to further ramp up when Exxon’s fifth offshore development, Uaru, starts up later this year using the Errea Wittu FPSO to pump 250,000 barrels of oil per day.