Category: Quarterly Reports

26 Jun
By: MOF Communications Unit 0

Natural Resource Fund Quarterly Report March 31, 2020

This report is produced in accordance with section 38 (2) of the Natural Resource Fund Act 2019 which requires the Bank of Guyana to report on the performance and activities of the Natural Resource Fund (referred to hereinafter as the “Fund”).

This is the inaugural report of the Fund and covers the first quarter of the year 2020. All monetary references in this report have been reported in Guyana dollars (G$) and are presented in thousands (G$’000). Foreign currency transactions have been translated to G$ at the rate of exchange prevailing at the dates of the transactions. Rate of exchange at March 31, 2020 was GYD 208.50 = USD 1.

Natural Resource Fund Quarterly Report March 31, 2020
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26 May
By: MOF Communications Unit 0

Royalty Statement – NRF Statement of Account – April 2020; Stabroek Block Royalty Statement Q12020

On April 30, 2020, Guyana’s Natural Resource Fund account was credited with US$4,919,505.30 – the royalty payment for oil produced and sold from the Stabroek Block in the first quarter of 2020. During this quarter, approximately 5,029,301 barrels were produced and sold from the Stabroek Block, and no crude oil produced during this period was used for fuel or transportation. As such, and in accordance with Article 15.6 of the Petroleum Agreement for the Stabroek Block, the Government of the Cooperative Republic of Guyana was entitled to two percent of this quantity. This deposit to the NRF represents the cash value of GRCG’s royalty entitlement, given GCRG’s election to receive its royalty payment in cash. Further details on the monthly breakdown of royalty payments due to GCRG can be found in the Ministry of Finance’s monthly Report on Petroleum Production and Revenues.

NRF Statement of Account – April 2020
Stabroek Block Royalty Statement Q12020
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