In just the first five months of 2025, nearly half of Guyana’s offshore crude exports were shipped directly to only two countries: the Netherlands and Panama. Of the 93 cargoes recorded during the period, each typically carrying about one million barrels of oil, 20 were destined for the Netherlands and another 20 for Panama, accounting for 43% of total shipments.
The data was compiled through an aggregation of information sourced from Guyana’s Maritime Administration Department (MARAD), vessel tracking platforms including MarineTraffic, VesselFinder, and Maritime Optima, as well as proprietary insights provided by OilX.
The recurring destinations indicate a clear regularity in Guyana’s export patterns and the emerging importance of specific logistical and commercial hubs in the global routing of its oil.
While these shipments are recorded as direct exports to countries like Panama and the Netherlands, these destinations do not always represent the final processing or consumption point for the crude. Panama serves largely as a transshipment hub, and in Europe, crude arriving in the Netherlands, particularly through the Port of Rotterdam, may be redirected to refineries in other countries across the continent.
What the data shows
While the Netherlands and Panama dominated the charts, the remaining cargoes were distributed across a broad range of destinations, with a clear preference for European ports. Based on the aggregated data, European countries received the majority of shipments, accounting for over 60% of all recorded exports.
Latin America and the Caribbean (LAC), excluding Panama, followed as the second most significant region, with cargoes delivered to destinations such as the United States, Brazil, Bahamas, and Aruba. A smaller portion of the shipments headed to Asian markets, including China and Singapore.
