Guyana oil wealth fund reaches US$4.29 billion amid electricity crisis

Guyana’s Natural Resource Fund, established to manage petroleum earnings, reached US$4.2942 billion by the end of June 2026. Driven by record oil exports and rising profit-oil revenue, the government projects total petroleum revenue for the year to reach US$6.5 billion, significantly exceeding original budget estimates.

Despite this influx of wealth, the country faces a worsening electricity crisis. Guyana Power and Light (GPL) reported that peak demand has reached approximately 257 megawatts, leaving a slim reserve against a total generation capacity of 265.6 megawatts. The utility has attributed recent outages to overloaded feeders and transformers rather than a lack of generation.

Dr. Karen Abrams, founder of STEMGuyana, has called for the government to translate oil windfalls into tangible improvements in infrastructure and living conditions. She argues that the state must ensure petroleum revenues are used to build a dependable electricity system and support a modern economy through improved transmission and distribution.