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Guyana Owes Itself Oil Profits

Guyana Owes Itself Oil Profits

Published 2 days, 21 hours ago
Description

Guyana’s oil revolution just hit a major milestone: all seven projects’ costs are fully repaid, clearing the final $4.5 billion debt. With oil prices at $80 a barrel and daily production hitting 900,000 barrels, the country’s windfall is now massive—over $12 billion generated since January, enough to cover the debt and more. Citizens are demanding the government immediately claim its 50% profit share, frustrated by years of a 75% cost recovery clause that starved Guyana of revenue. If the government delays, the public vows to mobilize and ensure Guyana gets its fair cut from the Stabroek Block.

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