ExxonMobil Guyana reported a gross profit of US$5.7 billion for the last year, primarily driven by increased production from the floating production storage and offloading (FPSO) vessel, One Guyana. John Colling, Vice President and Business Services Manager of ExxonMobil Guyana, indicated that after paying GY$231 billion (approximately US$1.1 billion) in income tax, the company achieved earnings or comprehensive income of GY$982 billion (around US$4.6 billion) for 2025, which he noted is largely consistent with the previous year.
The FPSO One Guyana, which has a nameplate capacity of 250,000 barrels per day, commenced production in August 2025. Colling explained that the higher production levels contributed to the gross profit, although this was somewhat offset by lower crude oil prices in 2025 compared to 2024. The average Brent crude price was reported at US$82 per barrel in 2025, an increase from US$68 per barrel in 2024.
According to the financial report submitted to Guyana’s Companies Registry, ExxonMobil Guyana earned a total of GY$4.7 trillion (approximately US$22.3 billion) last year, which Colling described as a strong operational performance. Since the commencement of oil production in December 2019, Guyana has received GYD$1.7 trillion (about US$8.7 billion) in profit oil and royalties from ExxonMobil and its co-venturers, China National Offshore Oil Corporation and Chevron.
Colling emphasized that the contract is functioning as intended, generating profit oil and revenues for the government without incurring investment expenses. The Bank of Guyana’s Natural Resources Fund report indicated that from March 2020 to mid-December 2025, deposits totaled over US$8.5 billion. Additionally, between May 2022 and March 2026, the Guyana government transferred US$6 billion to the Consolidated Fund for public spending.
Looking forward, Colling expressed optimism regarding the recovery of the remaining US$4.5 billion invested in seven approved projects by the end of 2026, following a spike in global oil prices. To date, the company has recovered US$51 billion of the US$55 billion in cost oil from the profit-sharing agreement. The remaining 25% of profit oil is shared equally between the Guyana government and the co-venturers in the Stabroek Block. The projects approved up to 2025 include Liza 1, Liza 2, Payara, Yellowtail, Uaru, Whiptail, and Hammerhead. Colling also noted that annual profit oil payments to the Guyana government are projected to reach GY$2 trillion (approximately US$10 billion) by December 2029.
Source: demerarawaves.com
Follow us on Instagram: @news.tringlobe
