ExxonMobil Guyana Limited (EMGL) closed 2025 with profits of G$982.5 billion, slightly below the prior year's figure.
According to the company's 2025 income statement, EMGL recorded G$1.71 trillion in revenues. Total operating expenditures stood at approximately G$498.5 billion, with an income tax expense of around G$231.6 billion.
Revenues refer to the amount of income the company generates, while the operating expenditures, in simple terms, are the company’s expenses and responsibilities. At the end of 2024, the company earned G$1.73 trillion in revenues and G$995.1 billion in profits.
Exxon’s financials were shared with members of the media on Tuesday, during an engagement at the company’s Ogle office.
John Colling, EMGL's Vice President and Business Services Manager, explained that the lower revenue was linked primarily to a decline in oil prices in 2025. Production costs also increased as the company ramped up operations with the introduction of the One Guyana FPSO — the vessel used to produce oil at the Yellowtail project.
However, lower oil prices resulted in the company earning less revenue despite producing more barrels of oil. To illustrate this, Colling said the company made 102 lifts of oil in 2025 compared to 88 lifts in 2024; however, the average price per barrel of oil in 2024 was about US$82, while in 2025, it was US$68.
With the introduction of the One Guyana FPSO, Guyana’s oil production started to climb and has now gone past a daily production of 900,000 barrels.
This year, oil prices have risen sharply amid escalating conflict in the Middle East and the closure of the Strait of Hormuz — one of the world's most critical energy shipping routes — by Iran in early March. Colling said the company does not predict oil prices, but noted that increased revenues are expected.
EMGL is the operator in the lucrative offshore Stabroek Block, where oil production began in December 2019. Currently, more than 900,000 barrels of oil are produced daily from four projects: Liza I, Liza II, Payara, and Yellowtail.
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