2023 oil earnings by Guyana: $30 billion GYD
2023 oil company (Exxon, Chevron, China National) profits from Guyana: $1.3 trillion GYD
> Exxon is the operator of the Stabroek Block, with 45% interest, Hess Guyana Exploration Ltd. holds 30% interest and China National Offshore Oil Corporation (CNOOC) Petroleum Guyana Limited holds 25% interest. Last year, the three companies earned $1.3 trillion in profits – entirely tax-free in Guyana.. the Stabroek Block partners are allowed to recover 75% of the oil produced to recover their investment costs, the remaining 25% is considered profit, which is split between Guyana and the Stabroek Block consortium, giving each 12.5%.
> However, the consortium pays a 2% royalty from its share to Guyana. From its 14.5% Guyana then has to pay taxes for the oil companies... for 2023, the Government of Guyana (GoG) had to pay the combined sum of $306 billion in income taxes for ExxonMobil Guyana Limited and its Stabroek Block partners, Hess and CNOOC according to the companies’ audited financial statements, while for the same period Guyana earned $336 billion from its oil.