With more profit now available, Guyana received US$1.886 billion, equivalent to approximately $393.3 billion, in petroleum revenues during the third quarter of this year, according to a notification published in the Official Gazette on October 12
The receipts comprised US$1.775 billion from 22 profit-oil payments, a royalty payment of US$111.2 million and a payment of US$99,985 from CGG Services SAS under a 3D seismic multi-client agreement.
The third-quarter inflows significantly exceeded the approximately US$1.23 billion reported for the previous quarter. Kiskadee Watch reported on July 6 that the earlier notification, published on July 3, recorded payments for 11 profit-oil lifts and one royalty payment of US$107.4 million.
The latest notification, issued pursuant to Section 33(2) of the Natural Resource Fund Act 2021, covers revenues deposited between July 1 and September 30. It identifies the Bank of Guyana as the source of the figures.
Payments were received for government profit-oil lifts from the Liza Destiny, Liza Unity, Prosperity and One Guyana floating production, storage and offloading vessels.
The largest individual profit-oil receipt was US$92 million, equivalent to G$19.18 billion, deposited on August 28 for a lift executed from the One Guyana vessel on July 29.
Other substantial receipts included US$91.68 million deposited on August 31 for a July 31 lift from Prosperity, and US$91.46 million deposited on September 11 for an August 13 lift from the same vessel.
The smallest profit-oil payment listed was US$69.18 million, received on August 7 for a lift from Prosperity on July 8.
The royalty payment, deposited on July 30, related to production during the second quarter of 2026 and amounted to G$23.19 billion.
Separately, the fund received US$99,985, or G$20.85 million, from CGG Services SAS on August 18. Classified in the notice as a signature bonus, the payment was made under a 3D seismic multi-client agreement and was recorded net of bank charges.
The deposit dates do not necessarily correspond to the period in which the oil was lifted. The first three profit-oil payments received in July, for example, related to lifts undertaken in June.
The notification states: “These receipts are reported on a cash basis and are subject to change following price reconciliation.”
It also explains that profit-oil receipts arise from government lifts of crude earned as profit, while royalties are paid quarterly, 30 days after the end of each calendar quarter.
In its report on the previous quarter, Kiskadee Watch noted that individual profit-oil receipts ranged from US$73.4 million to US$117.9 million. While the latest notification records twice as many profit-oil payments, each was below that earlier peak.
Kiskadee Watch had also reported that first-quarter petroleum receipts exceeded US$761 million. Parliamentary approval was granted for withdrawals of US$2.374 billion, equivalent to G$495 billion, from the Natural Resource Fund during 2026.
The latest notice accounts for petroleum revenues entering the fund during the quarter. It does not state the closing balance, which also reflects withdrawals and investment returns.
With ExxonMobil’s recovery of its US$55b investment – two years before the projected time – Guyana’s share of profit oil produced from the Stabroek Block has risen from 12.5% to approximately 39.8%.
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