Guyana: ExxonMobil Guyana Reports $8.1 Billion Revenue in 2025 Amid Lower Oil Prices

ExxonMobil Guyana Limited (EMGL) has reported a gross revenue of GY$1.71 trillion (approximately US$8.1 billion) for the financial year 2025. This figure reflects the company’s ability to adapt to fluctuations in the global oil market, particularly as international crude prices fell from an average of US$82 per barrel in 2024 to US$68 per barrel in 2025.

The financial results were presented by Vice President and Business Services Manager John Colling at the company’s headquarters in Ogle. EMGL achieved an operating profit before tax of GY$1.21 trillion, resulting in a net profit after tax of GY$982.5 billion. Although this represents a slight decrease from the record net earnings of GY$995.1 billion in 2024, the results underscore Guyana’s position as a rapidly growing offshore energy sector.

A key factor in the company’s performance was the successful launch of the ONE GUYANA Floating Production, Storage, and Offloading (FPSO) vessel, which began operations on August 8, 2025. This vessel contributed nearly 191,000 barrels per day to the country’s output during the latter half of the year, helping to push total production from the Stabroek Block beyond 900,000 barrels per day.

Colling noted that despite lower oil prices, operational performance remained strong, with EMGL completing 102 crude oil lifts in 2025, an increase from 88 lifts in 2024. The overall production from the Stabroek Block, which includes contributions from co-venturers Hess and CNOOC, totaled 260 lifts across four operating hulls.

In terms of financial metrics, EMGL’s capital expenditure for 2025 was GY$720 billion (US$3.45 billion), with an income tax expense of GY$231.6 billion. The company has also made significant progress in asset management, including a US$2.32 billion purchase of the ONE GUYANA FPSO to reduce long-term operational costs.

Looking ahead, EMGL anticipates maintaining a production baseline of approximately 1.3 million barrels per day, with plans to reach a capacity of 1.7 million barrels per day by 2030. Under the existing Production Sharing Agreement, annual revenues to the Government of Guyana’s Natural Resource Fund are projected to exceed US$10 billion by 2030.

However, the rapid expansion of the oil sector has sparked discussions among civic and academic observers regarding the need for enhanced state oversight. Critics have called for stronger governance measures to ensure that the benefits of oil production are maximized for the Guyanese public.

Source: hgptv.com