Guyana receives royalty payments for gas and oil

Latest News

Guyana receives royalty payments for gas and oil

Friday, July 31, 2020

Print this page Email A Friend!

GEORGETOWN, Guyana (CMC)— The Guyana government today said it has received US$3.6 million as part of the second payment for the country's oil and gas royalties, which has now been deposited in the Natural Resources Fund (NRF).

Finance Minister Winston Jordan said the payments were received on schedule and were deposited in the Federal Reserve Bank of New York account.

The second royalty payment will be added to the over US$90 million already in the NRF, he said, indicating that the payments are for April, May and June's gross oil production.

Royalties are calculated monthly and paid 30 days after every quarter of the year. The country's third royalty payment is expected in October and Jordan expressed satisfaction with the “transparent manner” in which the monies are being transferred.

“All the citizens of Guyana can track the deposits and the amount in the account. In accordance with the law, the citizens will also be able to check the spending whenever that takes place,” he added.

Guyana, which is emerging as a major energy supplier following the discovery of several gas and oil wells, received its first royalty payment in May 2020 along with the payments for his crude shipments.

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at




1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed:

6. If readers wish to report offensive comments, suggest a correction or share a story then please email:

7. Lastly, read our Terms and Conditions and Privacy Policy

comments powered by Disqus



Today's Cartoon

Click image to view full size editorial cartoon