Guyana’s Oil Output Climbs Year-On-Year

News Americas, New York, NY, April 27, 2025: Guyana’s oil production saw a slight dip in March 2025, falling about 3% to 627,000 barrels per day (bpd) from the previous month. Yet, the small South American CARICOM nation continues to solidify its position as one of the region’s fastest-rising energy giants.

According to new data from the Ministry of Natural Resources, Guyana’s first-quarter production reached an impressive 631,000 bpd—3% higher than the same period last year, underscoring a strong year-on-year growth trend.

Now ranked as Latin America’s fifth-largest oil exporter, behind only Brazil, Mexico, Venezuela, and Colombia, Guyana is poised for even greater expansion. The country’s output is set to soar later this year with the start-up of Yellowtail, ExxonMobil’s fourth major offshore project. The addition of a new floating production, storage, and offloading (FPSO) vessel this month is expected to lift the nation’s oil capacity to an estimated 940,000 bpd.

The Guyanese government projects that by the fourth quarter of 2025, average daily output will rise sharply to around 786,000 bpd, cementing Guyana’s status as a critical player in the global energy market.

Meanwhile, ExxonMobil and its consortium partners are nearing final agreements with the government to relinquish portions of the vast Stabroek Block that have not been explored or yielded commercial finds. The government confirmed that at least 2,534 square kilometers (approximately 253,400 hectares) will be returned, creating opportunities for new entrants into Guyana’s booming energy sector.

Oil revenues are also on a robust trajectory. The Ministry of Finance reported $605.46 million earned from royalties and crude sales in the last quarter of 2024 alone, including proceeds from seven cargoes sold from the government’s share.

As global energy dynamics shift, Guyana’s consistent production growth and strategic resource management continue to position it as a rising powerhouse in the Americas, with even bigger gains on the horizon.