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Oil & Gas

Guyana’s oil receipts for 2nd quarter at US$1.23b

The government on July 3rd published receipts for oil lifts and royalty in the second quarter of this year and the amount received totalled US$1.23b.

There were 11 lifts of profit oil in the second quarter. Each lift is around one million barrels of oil.

The amount received for the lifts ranged from a low of US$73.4m on April 7th to a high of US$117.9m on May 7th at the height of the Strait of Hormuz crisis. Eight lifts yielded over US$100 per barrel.

The one royalty payment amounted to US$107.4m.

The figures published in the Official Gazette were sourced to the Bank of Guyana.

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