Guyana earns US$493m in oil profits & royalties in 3rd qtr – CARICOM Business

(Image via Department of Public Information)

Guyana earned US$493.1 million which included profit oil of US$442.1 million and royalties amounting to US$51 million from the oil and gas industry July to September, according to the Bank of Guyana (BoG) in its third-quarter report for 2022.

The BoG said the increase in revenue was attributed to the additional Floating Production and Storage Offloading (FPSO) vessel, the Liza Unity, being in operation in the Liza Phase Two of the Stabroek Block.

Since oil production began in 2019, Guyana has recorded six lifts of profit oil, which have brought in US$1.2 billion in profit oil revenue and US$153.1 million in royalty payments.

Extract from the CARICOM BUSINESS Newsletter, Vol 5. No. 43

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