Finance Minister Dr Ashni Singh today announced that Guyana expects to earn a whopping US$957.6m from oil this year.
In his 2022 budget address today, he said “With two FPSO (Floating, Production, Storage and Offloading) vessels expected to be in operation this year, it is anticipated that there will be 94 lifts from the Stabroek Block, 13 of which will be Government lifts. From this, it is estimated that deposits into the NRF (Natural Resource Fund) for 2022 will total US$957.6 million, comprising some US$857.1 million earned from the Government lifts of profit oil, and an additional US$100.5 million from royalties”.
Monies from this amount would be used in 2023. The government will have access to US$607.6m from the NRF for expenditure this year.
