COUNTRY:  GUYANA.

Guyana’s oil-and-gas sector continues to transform the country’s economy at an extraordinary pace, with offshore production approaching or exceeding 900,000 barrels per day in 2026. Four floating production, storage and offloading (FPSO) vessels are currently producing in the Stabroek Block, while further developments are expected to push output substantially higher in coming years. The wider regional oil industry is also experiencing strong production growth, underscoring the scale of the petroleum boom across South America and the Caribbean. For example, Petrobras recently reported record production and a 97% increase in second-quarter profit to US$10.4 billion. OilNOW: Record oil output lifts Petrobras profit 97% to US$10.4 billion Guyana is meanwhile seeking to capture more value from its natural-gas resources through the Gas-to-Energy project, which is intended to expand electricity generation, reduce power costs and support new industrial activity.

The scale of Guyana’s petroleum income is also increasing rapidly. Guyana deposited almost US$2 billion in petroleum revenues into its Natural Resource Fund during the first six months of 2026, consisting primarily of the government’s share of profit oil and royalties. This follows approximately US$2.47 billion in oil-sector revenues recorded during 2025 and brings cumulative receipts into the oil fund to roughly US$9.7 billion since petroleum revenues began flowing in 2020. Oil money has consequently become a major source of government financing, with petroleum revenues being directed toward infrastructure, housing, healthcare, education and other development priorities. 

However, the rapid expansion is generating increasing debate over whether Guyana is receiving and managing an adequate share of the wealth created by its petroleum resources. Critics have raised concerns about the country’s production-sharing agreement with ExxonMobil and its partners, particularly the way recoverable costs are accounted for and the absence of project-level ring-fencing, which can affect the government’s effective share of revenues. Meanwhile, the government faces the broader challenge of converting extraordinary petroleum receipts into durable infrastructure and economic diversification without becoming excessively dependent on oil. This makes transparency, oversight and long-term management of the Natural Resource Fund increasingly important as production expands. 

Photo Source: Oil Now