Oil and gas steadfast with 16.2% projected growth in 2026 as production nears 840,000 bpd -Dr. Singh
Guyana’s oil and gas sector will continue to anchor strong economic expansion in 2026, with overall growth projected at 16.2 per cent, according to Minister within the Office of the President with responsibility for Finance, Dr. Ashni Singh.
Speaking in the National Assembly on Monday as he outlined macroeconomic targets for 2026, Singh said Guyana’s growth outlook remains robust, driven by pro-growth policies and a supportive policy framework, alongside sustained momentum in the non-oil economy.
“Mister Speaker, going forward, Guyana’s real economic growth is expected to remain strong, reflecting the pro growth policies of our government and the supportive policy frameworks that we’ve put in place,” Singh told the House.
He said the oil and gas sector will remain the primary engine of growth, while the non-oil economy continues to expand.
“The oil and gas sector will continue to be the main driver of overall growth, supported by the sustained dynamism that we have already seen demonstrated in the broader non oil economy,” he said.
Providing projections for 2026, Singh said economic expansion will remain in double digits across both segments of the economy.
“Mister Speaker, in 2026, overall growth is projected to be 16.2% and growth in the non oil economy is projected to be 10.8%,” he said.
On oil production, Singh reported that output from the four producing floating production, storage and offloading vessels (FPSOs) offshore Guyana is expected to remain strong throughout the year.
“The four producing FPSOs in the Stabroek Block are projected to produce almost 307 million barrels of crude oil at a rate of approximately 840,000 barrels of oil per day,” Singh said.
He noted that the projected performance of the oil and gas sector, combined with continued expansion in non-oil activities, underpins government’s positive outlook for Guyana’s macroeconomic performance in 2026.
