Guyana's Oil Sector Boosts GDP Growth to Historic Levels

Guyana's oil sector is driving historic GDP growth and local investment, with projected 16.2% GDP growth in 2026 underpinned by a 17.9% rise in oil production and $2.79 billion in oil revenues.

The government targets crude oil production of 1.3 million barrels per day (bpd) by 2027 and 1.7 million bpd by 2030, creating the foundation for higher export earnings, stronger fiscal revenues, and continued GDP expansion.

Upcoming developments like the $12.7 billion Uaru project are expected to significantly increase production and expand the sector's contribution to an anticipated GDP of between $50 billion and $69 billion by 2030.