Oil
Guyana oil exports to exceed one million BPD in December
Guyana is set to cross a major milestone in December as its crude oil exports surpass one million barrels per day.
Key points
- December preliminary loading schedules indicate crude exports will reach approximately 1.06 million barrels per day.
- The Uaru project will introduce a new crude grade, adding four million barrels during December.
- Rapid offshore expansion by ExxonMobil has driven cumulative Stabroek Block production past one billion barrels.
What happened
According to Bloomberg reporting cited by Oilprice.com, Guyana is on track to exceed one million barrels per day (bpd) in crude oil exports for the first time this December. The preliminary loading schedule for the month includes 33 million barrels, translating to roughly 1.06 million bpd.
The milestone coincides with the introduction of a new crude grade, Uaru, with initial shipments scheduled for December 11 to 12. Total Uaru exports are projected to reach four million barrels during its debut month.
Growth of the offshore sector
Hydrocarbon development in Guyana began following ExxonMobil's 2015 discovery in the Stabroek Block. Commercial production commenced in December 2019 via the Liza Phase 1 development.
Subsequent offshore projects have expanded output rapidly. The Liza Unity vessel came online in February 2022, followed by Prosperity at Payara in November 2023, and the ONE GUYANA vessel at Yellowtail in August 2025. By November 2025, production had reached 900,000 bpd, and cumulative production surpassed one billion barrels in September 2026.
Future outlook
The Uaru project, anchored by the Errea Wittu floating production, storage and offloading vessel, represents Guyana's fifth producing development. Additional projects including Whiptail, Hammerhead, and Longtail are scheduled to follow in the coming years.
According to IMF assessments reported in October 2026, the rapid expansion has driven significant economic growth, with the national economy expanding by more than 19 percent in 2025 and the Natural Resource Fund reaching approximately $3.3 billion by year-end. World Bank figures for 2025 indicate that fuel exports accounted for 88.9 percent of Guyana's merchandise exports.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
88.9% of Guyana’s merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
