Guyana received US$232M in petroleum revenues between April – June

Guyana received US$232,164,587 in petroleum revenues paid into the Natural Resource Fund (NRF) from April 1, 2022 to June 30, 2022.

This is equivalent to GY$48,406,316,589, according to a notice published in the Official Gazette dated July 18, 2022.

This notice was published pursuant to Section 33(2) of the Natural Resource Fund Act 2021 which mandates that the Minister or any person directed by the Minister shall cause to be published in the Gazette notification of the receipts of all petroleum revenues that are paid into the Fund within three months of such receipts.

A breakdown of the numbers shows that Guyana received a royalty payment related to first quarter production on April 28, 2022 amounting to US$21,059,488.63.

Further, payment for a lift of profit oil executed on April 25, 2022 from the Liza Unity Floating Production Storage and Offloading (FPSO) was received on May 25, 2022 amounting to US$102,548,225.10.

And payment for a lift of profit oil executed on May 3, 2022 from the Liza Destiny FPSO was received on June 2, 2022 amounting to US$108,556,874.23.