The report noted that Guyana’s fourth FPSO, which forms part of the Yellowtail development project, began production offshore Guyana in early August 2025 and reached its peak capacity of 250,000 barrels per day in November that year.

“Guyana’s fourth FPSO – Yellowtail development project began production offshore Guyana in early August 2025 and the One Guyana FPSO achieved its peak capacity of 250,000 bps in November 2025,” the report stated.

According to the report, the vessel’s ramp-up to full production capacity has significantly boosted the country’s overall output.

“The ramp-up of the FPSO to full capacity has reportedly taken Guyana’s daily production level to an estimated 900,000 bpd,” the report said.

The NRF report also indicated that production could rise even further if regulatory approval is granted for additional output from the One Guyana FPSO.

“However, this daily production level could be further increased, as the One Guyana FPSOs is reported to have the potential to ramp-up to a maximum capacity of 290,000 bpd, subject to government approval,” the report added.

The report highlighted that production levels have also been supported by strong performances from Guyana’s other offshore developments. The Liza Destiny FPSO is reportedly producing above its designed capacity of 120,000 bpd, while the Liza Unity and Prosperity FPSOs are also operating above their expected capacities of 220,000 bpd each.

Looking ahead, Guyana’s production is expected to continue expanding. The Uaru development, approved in April 2023, is slated to begin operations in the latter half of 2026 and is expected to add approximately 250,000 bpd. The Whiptail project, approved in 2024, is expected to contribute another 250,000 bpd when it comes on stream by the end of 2027.

Further developments, including Hammerhead and Longtail, are also progressing, with the NRF report projecting that Guyana’s oil production could reach approximately 1.5 million barrels per day by the end of the decade.

Speaking at the Ministry of Housing and Water’s “Dream Realised” outreach in Rosignol on Friday, Housing and Water Minister Collin Croal said the exercise marks the start of efforts to tackle pending applications during the Government’s current term.

“Our manifesto commitment says, for regions like yours, that we will intend to clear all of the pending applicants,” Croal told residents.

He added, “Today [Friday] is the day that we will start the process to implement our 2025 five-year mandate of ensuring we fulfil that commitment here in Region Five.”

According to the minister, the Central Housing and Planning Authority has more than 4,000 applications recorded for the region. However, he noted that some applicants may have migrated, relocated or already acquired housing elsewhere.

To meet demand, Croal said Government has been working with the Guyana Lands and Surveys Commission to secure additional lands.

The latest allocations are being made in the Experiment and Track A-O developments, with priority given to persons who attended the October 2024 allocation exercise but were unable to secure lots because of limited availability.

Beyond distributing house lots, the minister said work is already advancing to ensure the new developments are equipped with the necessary infrastructure.

“We have already completed the design, and within a month you will see the advertisement out for the infrastructure work for this area,” he said.Croal also disclosed that more than 550 certificates of title were available for distribution at Friday’s exercise. These included over 330 titles for lands at Experiment and 189 in the Blairmont-Shieldstown area, while another 20 titles are expected to be issued to residents in regularised areas of Blairmont.He said title processing has improved significantly in recent years, with more than 1,000 titles processed in Region Five.

“When we came in as a Government, your titles were taking longer than six months,” Croal said, noting that additional staff and improved systems have reduced the processing period to approximately three months.

The exercise also saw support being provided to persons constructing homes through Government’s steel and cement subsidy programme. More than 90 residents were expected to benefit, receiving a combined $21 million in assistance. To date, over $73 million has been distributed under the initiative in the region.Meanwhile, Croal announced plans to expand housing development further east in Region Five.

While lands remain available in the Borma area, Government is now pursuing additional acreage for a housing scheme in the Mahaicony area.

“We are currently working to identify or to acquire some lands to develop a housing scheme within the Mahaicony precinct,” the minister said. “For those who are listening in Region Five and asking what happened to them at that end, we haven’t forgotten you.”

The announcement is expected to bring relief to residents in eastern Region Five who have been calling for housing developments closer to their communities.

The floating power plants, located at Meadow Bank in the Demerara River and Everton in the Berbice River, have been supplying 60 MW and 36 MW of electricity respectively since 2024 under a two-year agreement between the Guyana Power and Light Inc. (GPL) and a joint venture involving Turkish firm Karpowership and Qatar-based UCC Energy International.

Reports have surfaced that the contract has expired and that discussions are underway on a renewal agreement.

Addressing the issue on Thursday, Minister of Public Utilities Deodat Indar said the Government is focused on securing favourable terms for Guyana.

“I would like to assure the public that the Government of Guyana is working in the best interests of the people of Guyana to get the best possible commercial rate for the renewal of the contract,” the minister said.

Recent reports suggested that the company had threatened to cease operations if a new agreement was not reached. However, Indar maintained that both vessels remain operational while negotiations continue.

“We continue to be in the negotiation process, while the power ship maintains an uninterrupted supply of electricity to the national grid… I want to reassure the population that no power outage is occurring due to a lack of power generation,” he stated.

The minister further explained that recent power interruptions experienced across the country were linked to grid maintenance works and disruptions caused by contractors, rather than any issues involving the power ships.

He noted that the public will be updated once negotiations between GPL and the operators are concluded.

The power ships were brought in as a temporary measure to help meet increasing electricity demand while Guyana awaits the commissioning of the Gas-to-Energy (GtE) Project at Wales, West Bank Demerara.

GPL Team Lead Kesh Nandlall had earlier disclosed that Guyana’s peak electricity demand has reached 236 MW and is projected to increase dramatically over the coming years.

“By 2030, we estimated it to be 1650 MW, or one gigawatt (GW), 650 MW of peak demand output that we’ll have to have generation in place [to meet]…that means a 600 per cent increase in our generating capacity from now to 2030,” Nandlall said during the Guyana Energy Conference earlier this year.

Current peak demand has doubled from 120 MW in 2020, driven by both a growing customer base and increased electricity consumption among existing consumers.

GPL currently has about 260 MW of firm capacity available on the Demerara-Berbice Interconnected System (DBIS), with that figure expected to rise to approximately 285 MW this year.

The Wales Gas-to-Energy Project is expected to add 300 MW of generating capacity and significantly reduce electricity costs when it comes on stream later this year. The Government has also announced plans for a second phase of the project, which is expected to deliver an additional 300 MW by 2030 as electricity demand continues to rise.

The visit saw the Commander-in-Chief joined by Cabinet ministers, senior military officers and national security officials as Guyana and the United States continue to strengthen defence cooperation.

The USS Nimitz, which carries more than 4,000 personnel and some of the world’s most advanced military aircraft, is currently conducting exercises with the Guyana Defence Force (GDF) as part of efforts to enhance security collaboration and military readiness.In a social media post on Thursday, President Ali described the United States as a reliable security partner whose support is reflected through tangible actions.

“The United States has long been a strong and dependable security partner for Guyana and the wider region. Its commitment to its allies is not expressed through words alone, it is demonstrated through action, partnership and a sustained presence in support of regional peace and stability,” the President stated.

He added that Guyana remains grateful for the support provided by the US Government, military and people in advancing regional security.

A video released this week also captured remarks made by President Ali during the visit, where he commended the role being played by the US in safeguarding the region.

“When the US Government says that it is committed to its allies, it is not only words. The United States are serious when they say they want to be locked in to the security of this region,” he said.

The President also highlighted the diversity of the US military, noting that three crew members aboard the vessel are of Guyanese heritage.The visit followed an invitation from US Ambassador to Guyana Nicole Theriot.

In a statement issued after the engagement, the US Embassy said the visit underscored the growing defence partnership between Guyana and the United States.

“The United States and Guyana share a commitment to regional security and prosperity. The visit of the USS Nimitz demonstrates our dedication to working hand-in-hand with Guyana and our Caribbean partners to address shared challenges and build a safer, stronger hemisphere for all our citizens,” Ambassador Theriot said.

The embassy noted that the USS Nimitz is participating in joint exercises with the GDF under Southern Seas 2026, aimed at strengthening military cooperation and improving the ability of both countries to respond to shared security challenges.

It also pointed to Guyana’s membership in the Shield of the Americas initiative, a regional partnership launched earlier this year to tackle narco-trafficking and other transnational crimes.

The embassy further highlighted ongoing cooperation under the Shiprider Agreement, which allows Guyanese law enforcement officers to join US vessels during counter-narcotics operations in the region.

Also among the Guyanese delegation was Lieutenant Commander Clint Venture, who previously spent six weeks aboard the USS Nimitz as an embarked international staff officer, assisting with the planning and coordination of engagements between the vessel and partner nations across the US Southern Command region.

In an interview with the Dominican Republic-based energy publication Energía e Hidrocarburos Plus (EH+), the President said the government’s approach is focused on ensuring that oil wealth benefits future generations rather than providing short-term gains.

“We are defying the so-called “oil curse” by ensuring that our oil wealth is a down payment on our children’s future, not a lottery ticket for today,” President Ali said.

He pointed to the Natural Resource Fund (NRF) as a key mechanism for safeguarding the country’s finances while supporting national development.

According to the Head of State, revenues from the oil and gas sector are being directed towards education, healthcare, security, public services and infrastructure projects aimed at strengthening the economy and improving citizens’ quality of life.

“Oil revenues are our national seed capital. We are planting today the forests of opportunity that will shelter generations to come,” he said.

President Ali also stressed the importance of reducing reliance on a single industry, noting that the government is modernising and expanding other sectors of the economy to build resilience against future economic shocks.

With more than 11 billion barrels of oil reserves discovered offshore, he said Guyana has become an increasingly important player in the international energy market.

“We are not just an oil producer; we are a new global energy anchor. Our strategy is one of deliberate diversification aimed at serving our Caribbean and continental families, engaging Europe, and exploring Asian markets,” the President stated.

He added that Guyana is seeking to strengthen partnerships that promote energy security while creating new trade and investment opportunities.

Touching on relations with the Dominican Republic, President Ali said cooperation between the two countries continues to expand across a number of sectors, including energy, agriculture, tourism and trade.

His remarks come amid growing interest from the Dominican Republic in Guyana’s oil and gas industry. Last month, the Office of the President disclosed that officials from Refinería Dominicana de Petróleo S.A. held discussions with Guyanese authorities on expanding collaboration in the sector, including potential investment opportunities linked to the Berbice Block.

The engagement forms part of a broader cooperation framework established under a 2023 Memorandum of Understanding between Guyana and the Dominican Republic covering areas such as energy, oil refining, agriculture, tourism and petrochemicals.

The two countries have also welcomed increasing private sector partnerships, including joint ventures and consortiums in agriculture, energy and petrochemical development.

According to the Bank of Guyana’s Natural Resource Fund (NRF) Quarterly Report for the period January 1 to March 31, 2026, inflows to the Fund totalled G$120.43 billion (US$577.6 million), comprising earnings from profit oil and royalties.

The report stated: “During the quarter, the Fund accounted for inflows amounting to G$120,430.15 million (US$577.6 million) comprising of profit oil – G$97,308.85 million (US$466.71 million) and royalties – G$23,121.3 million (US$110.89 million).”

Profit oil accounted for the largest share of the revenues, contributing G$97.31 billion (US$466.71 million), while royalties generated G$23.12 billion (US$110.89 million). No signature bonus payments were recorded during the quarter.

The NRF report noted that the first-quarter inflows were lower than the previous quarter, when the Fund received G$180.9 billion (US$867.65 million), which included revenues from profit oil, royalties and a US$15 million signature bonus.

Comparing the first quarter of 2026 with the same period in 2025, the report showed that inflows increased from G$95.82 billion (US$459.58 million) to G$120.43 billion (US$577.6 million), reflecting a 25.68 per cent rise.

The report also disclosed that Guyana lifted seven one-million-barrel oil cargoes as its share of profit oil during the quarter and is expected to benefit from a total of 40 lifts in 2026. To date, the country has received 106 profit oil lifts since the establishment of the Fund.

Since its inception, the NRF has received US$8.04 billion from profit oil, US$1.23 billion from royalties and US$15 million in signature bonus payments.

Minister of Foreign Affairs and International Co-operation Hugh Todd and Foreign Secretary Robert Persaud led a Guyanese delegation during meetings on June 1 and 2 with senior United States officials.

Among those engaged were Deputy Secretary of State Christopher Landau, Acting Assistant Secretary of War for Homeland Defense and Hemispheric Affairs Joseph Humire, and Chris Wright.

According to information released on the discussions, both sides examined a number of issues of mutual interest, including energy security, border security, regional stability, irregular migration and the fight against illicit trafficking.

A major outcome of the meetings was the United States’ reaffirmation of its support for Guyana’s sovereignty and territorial integrity.

The officials also explored opportunities to strengthen co-operation in the energy sector as Guyana continues to expand its presence in global energy markets.

Security matters featured prominently during the engagements, with discussions focusing on enhanced border security, tackling transnational crime and improving regional responses to emerging threats. Strategies to address irregular migration and disrupt illicit trafficking networks were also considered.

The meetings underscored the growing relationship between Guyana and the United States, particularly in areas such as energy, security, trade, investment and governance.

Accompanying Todd and Persaud were Ambassador Samuel Hinds, Advisor Wazim Mowla and Minister Counsellor Keishanna Sullivan.

The engagements form part of Guyana’s wider efforts to deepen ties with strategic international partners while advancing national priorities related to economic growth, security and regional stability.

Bharrat was at the time delivering remarks at the opening of the fourth annual Local Content Summit 2026, held at the Four Points by Sheraton under the theme, “From Policy to Prosperity: Unlocking Opportunities through Collaboration.”

The event brought together government officials, private sector representatives, investors and other stakeholders to discuss the impact of local content policies on Guyana’s development.

“We say to investors, both local and foreign, now is the time to invest in Guyana. If you don’t invest now, you’ll probably miss the opportunity,” Bharrat said.

He described the current period as one of the most significant in the country’s history, noting that Guyanese are witnessing the transformation of the nation through major development projects and economic growth.

According to the minister, Guyana’s rapid rise is not solely due to oil production but is the result of sound policies, effective management and decisive leadership.

Pointing to neighbouring Venezuela, Bharrat argued that natural resources alone do not guarantee prosperity.

“So it shows you clearly; it is not oil and gas that have propelled Guyana to be the fastest-growing economy in the world. Because if it was oil and gas, then Venezuela would have been the best economy in the world if it was only oil and gas,” he said.

Bharrat highlighted measures introduced since 2020, including the establishment of the Natural Resource Fund (NRF), the implementation of local content legislation and updates to petroleum laws.

He noted that more than 7,000 Guyanese are now directly employed in the oil and gas sector and pointed to the training facility at Port Mourant as a key investment in workforce development.

The minister said the Local Content Act has also helped create opportunities in agriculture, transportation, housing and other sectors, allowing businesses and farmers to expand their operations as demand grows.

He cited the example of a local businessman whose vehicle fleet grew from four vehicles in 2021 to 120 by 2025, creating additional employment opportunities.

Bharrat also said Guyana continues to balance oil production with environmental protection.

“Not many countries in this world can boast of producing almost a million barrels of oil while at the same time saying that they’re the second most forested country in the world, with the lowest deforestation rate,” he said.

The minister further stressed the importance of partnerships in developing the country’s petroleum resources, acknowledging the role of international oil companies in the sector’s growth.

He also disclosed that government is still examining amendments to Schedule One of the Local Content Act to better reflect the growing capacity of Guyanese businesses.

Attorney General and Minister of Legal Affairs Mohabir Anil Nandlall said the Depreciating Property Sale Order Bill of 2026 is among six bills scheduled to be tabled and read for the first time when the National Assembly meets on June 5.

Speaking during his Issues in the News programme, Nandlall explained that the proposed legislation was developed through the Regional Security System (RSS) and the Caribbean Financial Action Task Force (CFATF) and is intended for implementation across the Caribbean.

According to the Attorney General, criminal matters involving offences under customs, narcotics and anti-money laundering laws often involve vehicles, boats, gold and other property that are seized and held for years while cases are being heard.

“And they are lodged all over the place, and they deteriorate. By the time the litigation is finished or the criminal charges are concluded, the properties are destroyed or damaged severely because they are stored not in a suitable manner or in a suitable place and they depreciate significantly in value,” Nandlall said.

He noted that when the State succeeds in obtaining forfeiture orders, the assets often have little value remaining. Conversely, when an accused person is acquitted and the property is returned, it may already be significantly damaged.

“And the state, after that, is often sued, and now have to compensate millions of dollars, have to pay millions of dollars in compensation for the depreciation, the damage, and or destruction of the goods, or the items, or the vehicles, as the case may be, that were the subject of the litigation or the criminal proceedings,” he explained.

The proposed legislation would allow the State to apply to the court for permission to sell seized property before it deteriorates. The proceeds from the sale would then be deposited into an interest-bearing account until the matter is resolved.

“This piece of legislation allows the state to go to a court and sell the item and lodge the proceeds in an interest bearing account, and when the case is determined, whoever is entitled to that vehicle or boat or goods or chattel, they get the value along with the interest,” Nandlall said.

He stressed that state agencies would not have the authority to sell property on their own. Instead, they would first be required to obtain a valuation, file court proceedings and serve notice on the property’s owner.

“The court has the power to make the order, not the state agencies. So not SOCU will determine whether they will sell a property or not; they have to go to the court,” the Attorney General stated.He added that the bill contains several safeguards designed to protect property owners while preserving the value of assets involved in legal proceedings.

If enacted, the legislation is expected to reduce the number of vehicles and other assets left to deteriorate in storage facilities operated by agencies such as the Guyana Revenue Authority (GRA), the Customs Anti-Narcotic Unit (CANU) and the Guyana Police Force.

Nandlall described the measure as “a brilliant piece of legislation that will bring great reprieve to a serious problem that has plagued the legal system for an extraordinary long period of time.”

Attorney General and Minister of Legal Affairs, Mohabir Anil Nandlall, announced the initiative during his latest Issues in the News programme, noting that the first consultation was held on Tuesday at the World Trade Centre.

According to Nandlall, the exercise stems from an initiative by President Irfaan Ali and is being led by Minister of Parliamentary Affairs and Governance, Gail Teixeira.

He said the government is seeking to establish a regulatory framework to shield children from harmful online content while preserving access to educational and beneficial materials.

“We have decided to start work on establishing a regulatory framework that will protect our children from the pernicious materials that are available on the world wide web and on social media for the protection of our children,” Nandlall said.

He stressed that the initiative is focused on safeguarding children and is not intended to restrict freedoms.

“I want to assure you that the government has no ulterior or nefarious motive. This is not an attempt to censor, this is not an attempt to interfere with anyone’s freedom of expression, or freedom of thought, or freedom to access the media. This is simply for the protection of our children,” he stated.

The Attorney General noted that while the internet provides valuable educational resources, there is also content that children should not be exposed to.

He argued that regulation of social media has become necessary, pointing out that several countries have already implemented measures to address the issue, particularly where children are concerned.

“Needless to say, that the time is here for us to regulate social media generally. I don’t think anyone can feel that we can continue with a social media that is completely unregulated,” Nandlall said.

He explained that Guyana will draw from legislation already enacted in countries across Europe, South America, Asia, as well as Australia and New Zealand, while adapting any framework to local realities.

According to Nandlall, the consultation process will be broad-based and involve stakeholders from across the country. Religious organisations participated in the first round of discussions, but additional engagements are planned with parents, teachers, social workers and other groups.

“We are going to go into other phases of consultations and engage every important stakeholders in the society, because we want the widest possible views to be expressed on this matter,” he said.

The Attorney General added that the success of any future legislation will depend heavily on the involvement of parents, guardians, teachers and others who interact with children, noting that government alone cannot monitor what children are exposed to within their homes.

He further announced that consultations will be held in all regions to ensure the proposed legislation reflects national input and receives broad public support.