Key facts
- Guyana's crude oil exports are projected to exceed 1 million barrels per day for the first time in December.
- December's preliminary loading schedule includes 33 million barrels of crude exports, averaging approximately 1.06 million bpd.
- The first shipment of the new Uaru crude grade is scheduled for December 11–12.
- ExxonMobil's Stabroek Block developments could lift installed production capacity to approximately 1.7 million bpd by 2030.
- Guyana's economy grew more than 19% in 2025, according to the IMF.
Guyana is on the cusp of exporting over one million barrels of crude oil per day for the first time in December, a significant milestone for the nation that began producing oil only in late 2019. Preliminary loading schedules indicate approximately 1.06 million barrels per day will be exported this month, with the first shipments of the new Uaru crude grade set for December 11–12.
The rapid expansion of Guyana's oil sector is driven by ExxonMobil's discoveries in the offshore Stabroek Block, which began with the Liza Phase 1 development. Subsequent projects, including Liza Unity, Prosperity, and the upcoming ONE GUYANA FPSO, have steadily increased production capacity. By November 2025, production had already reached 900,000 bpd, and cumulative output from the block surpassed one billion barrels in September 2026.
Further growth is anticipated with several more floating production, storage and offloading (FPSO) vessels planned. The Uaru project, with its Errea Wittu FPSO, is set to debut in December, followed by the Whiptail project in late 2027 and Hammerhead in 2029. ExxonMobil is also advancing its eighth development, Longtail, targeting a 2030 startup. These developments could collectively boost installed production capacity to approximately 1.7 million bpd by 2030.
The surge in hydrocarbon production is significantly transforming Guyana's economy, with the IMF reporting over 19% growth in 2025 and substantial accumulation in the nation's Natural Resource Fund. Guyana's emergence as a major non-OPEC producer is also notable amid global supply concerns.