Guyana, one of South America’s fastest-emerging oil producers, has released its 2025 annual report for the Natural Resource Fund (NRF) — the sovereign wealth vehicle that holds all of the country’s oil and gas sector revenue — revealing key figures that shed light on how the nation manages its newly found natural resource wealth.
Last year, total inflows into the NRF reached $2.509 billion from the country’s offshore oil operations, representing a modest 2.3% decline from the 2024 total inflow of $2.568 billion. The vast majority of this 2025 revenue came from profit oil — the share of crude output that Guyana claims as part of its production sharing agreements with international oil companies. According to prior data published by Minister of Finance Ashni Singh, profit oil contributed roughly $2.1 billion to the fund in 2025. Royalty payments added another $330.7 million, while a $15 million signing bonus from a new production contract was also deposited into the sovereign fund.
The most striking takeaway from the annual report is that Guyana’s government withdrew nearly as much capital from the NRF as was deposited over the course of the year. Total withdrawals hit $2.463 billion, a more than 55% jump from the $1.586 billion pulled from the fund in 2024. This 2025 withdrawal amount aligns almost exactly with the annual approved budget ceiling of $2.464 billion, meaning the government utilized nearly 100% of its permitted withdrawal allocation for the year. Disbursements were spread evenly across 2025: two $400 million transfers to Guyana’s Consolidated Fund were made in February and April, followed by multiple $200 million installments, with a final $463 million withdrawal processed in late December.
Under Guyana’s existing national legislation, all funds withdrawn from the NRF are transferred to the country’s Consolidated Fund, where they are earmarked for national development priorities and economic growth-driving investments that benefit the broader public. This framework was designed to ensure that oil revenue is directed toward long-term national progress rather than accumulated solely as reserve capital.
Guyana first launched commercial crude production from its massive offshore Stabroek Block in December 2019. Over the subsequent six years, production has expanded rapidly as multiple floating production, storage and offloading (FPSO) vessels were brought online. By the end of 2025, four FPSOs — the Liza Destiny, Liza Unity, Prosperity, and One Guyana — were operating at the Stabroek Block, supporting ongoing output growth.
Looking ahead, Guyana’s government projects that total oil revenue will grow in 2026. Forecasts call for around $2.4 billion in profit oil earnings and $375.3 million in royalty payments next year, alongside an additional $17 million in signing bonuses from a new exploration agreement for Block S7. Despite the large-scale withdrawals in 2025, the NRF still holds more than $3 billion in reserve capital, with an end-of-year 2025 balance sitting at approximately $3.25 billion.
In just a few years, substantial oil reserves and consistent revenue growth have transformed Guyana into one of the fastest-growing oil producers in the Western Hemisphere, with far-reaching implications for the country’s economic trajectory and regional standing.