popular articles

Suriname grants $750 bonus to each citizen ahead of oil revenues

Suriname has launched a pre-distribution programme of its future oil revenues, offering a $750 bonus to more than 570,000 citizens well before the start of offshore production scheduled for 2028.

Please share:

The government of Suriname has implemented a programme called “Royalties for All,” distributing an individual bonus of $750 (around €665) to all citizens born before 1 January 2025. The initiative is funded from expected future revenues from offshore oil production, although extraction is not set to begin until 2028. Minister of Finance Stanley Raghoebarsing stated that the mechanism avoids borrowing or pledging future income.

The programme applies to 572,186 citizens and includes a 7% annual interest rate for unused accounts. An additional $150 bonus (around €135) will be granted to individuals who make no withdrawals. Only citizens over the age of 60 and those with disabilities can access the funds immediately. All others, including minors, must wait until 2028, when the country begins receiving actual oil revenue.

A scheme structured after TotalEnergies’ investment decision

The plan was developed by French advisory firm Lazard in July 2024. It was officially announced after the October declaration by TotalEnergies of its final investment decision in the offshore GranMorgu field. Located in deep waters off Suriname’s coast, the project involves a commitment of $10.5bn (€9.3bn) over four years, with production scheduled to start in 2028.

President Chan Santokhi announced the initiative in November 2024, describing it as a direct redistribution of a share of future oil revenue to the population. Less than a month before the general elections set for 25 May, in which Mr Santokhi is seeking a second term, the Finance Minister stated that the programme bears no electoral intent.

Deferred access and pledge of budget neutrality

Under the established terms, the majority of the population will receive the payment starting in 2028, once the oil income is realised. The government indicated that this structure ensures the programme’s sustainability without burdening future generations.

“This is not a loan, nor a sale or pledge of future oil revenues,” said Stanley Raghoebarsing during the presentation. He added that the programme is being implemented in a way that does not compromise the country’s long-term economic stability.

Register free of charge for uninterrupted access.

Publicite

Recently published in

In April, China generated 26% of its electricity from wind and solar, according to Ember, marking a historic first that reflects a rapid rebalancing of its energy mix.
Belgium’s federal parliament has adopted a law authorising the extension of Doel-4 and Tihange-3 reactors and allowing new nuclear construction, ending the nuclear phase-out policy established in 2003.
Belgium’s federal parliament has adopted a law authorising the extension of Doel-4 and Tihange-3 reactors and allowing new nuclear construction, ending the nuclear phase-out policy established in 2003.
The re-elected Australian government is investing heavily in storage, critical minerals and domestic production to meet its target of 82% renewable electricity by 2030.
The re-elected Australian government is investing heavily in storage, critical minerals and domestic production to meet its target of 82% renewable electricity by 2030.
The US House budget bill outlines a gradual phaseout of tax credits, affecting financing for solar, wind, storage, and clean hydrogen initiatives.
The US House budget bill outlines a gradual phaseout of tax credits, affecting financing for solar, wind, storage, and clean hydrogen initiatives.
China's gas, oil and coal volumes remain above last year’s levels, despite a decline in April compared to the record highs of March.
The UK’s energy price cap is expected to fall to £1,720 ($2,187) in July, according to Cornwall Insight, due to recent movements in wholesale markets.
The UK’s energy price cap is expected to fall to £1,720 ($2,187) in July, according to Cornwall Insight, due to recent movements in wholesale markets.
The European Commission releases data on the REPowerEU plan, confirming a sharp drop in Russian fossil fuel purchases and announcing new legislative measures by June.
The European Commission releases data on the REPowerEU plan, confirming a sharp drop in Russian fossil fuel purchases and announcing new legislative measures by June.
A partnership between the Indian government and GEAPP provides financial and operational support to early-stage climate-tech firms as part of a national energy strategy.
A partnership between the Indian government and GEAPP provides financial and operational support to early-stage climate-tech firms as part of a national energy strategy.
A $150mn financing package, including $100mn from the World Bank, will support the modernisation of Uzbekistan’s power grid and integration of renewable energy in key regions.
A report from the Public Policy Forum calls for accelerating over 500 energy, critical minerals and infrastructure projects to generate CAD1 100bn in Canadian GDP growth.
A report from the Public Policy Forum calls for accelerating over 500 energy, critical minerals and infrastructure projects to generate CAD1 100bn in Canadian GDP growth.
Quebec opens public consultation on draft regulations to revise gas standards and frame the integration of hydrogen, with feedback expected by 27 June.
Quebec opens public consultation on draft regulations to revise gas standards and frame the integration of hydrogen, with feedback expected by 27 June.
The Danish government is assessing the possibility of authorising new nuclear technologies, marking a major regulatory shift in energy policy after four decades of prohibition.
The Danish government is assessing the possibility of authorising new nuclear technologies, marking a major regulatory shift in energy policy after four decades of prohibition.
The Spanish government confirmed no signs of cyberattack were identified after the 28 April blackout that affected much of the Iberian Peninsula.
South African authorities are advocating for an approach that integrates economic development and environmental protection, highlighting global imbalances in climate responsibility.
South African authorities are advocating for an approach that integrates economic development and environmental protection, highlighting global imbalances in climate responsibility.
The European Commission is considering changing environmental laws to accelerate the granting of permits for renewable energy projects across the European Union.
The European Commission is considering changing environmental laws to accelerate the granting of permits for renewable energy projects across the European Union.
Spain’s competition authority has launched its own investigation into the April 28 power outage, joining ongoing inquiries into an incident that disrupted 60% of the country's electricity consumption.
Spain’s competition authority has launched its own investigation into the April 28 power outage, joining ongoing inquiries into an incident that disrupted 60% of the country's electricity consumption.
German regulator BNetzA has launched a consultation on a major grid tariff reform that could require electricity producers to pay access fees, thus altering the current funding structure.
The U.S. Department of Energy will purchase three litres of helium-3 from Interlune by 2029, marking the first public contract involving a natural resource extracted from the lunar surface.
The U.S. Department of Energy will purchase three litres of helium-3 from Interlune by 2029, marking the first public contract involving a natural resource extracted from the lunar surface.
Iran will limit daily power cuts to two hours for households starting May 10, aiming to ease pressure on the national electricity grid as temperatures climb.
Iran will limit daily power cuts to two hours for households starting May 10, aiming to ease pressure on the national electricity grid as temperatures climb.
The French government has entrusted Bernard Fontana with the leadership of EDF, relying on his industrial background to manage the end of the Arenh and revive the nuclear programme.
The French government has entrusted Bernard Fontana with the leadership of EDF, relying on his industrial background to manage the end of the Arenh and revive the nuclear programme.
The Spanish Prime Minister has asked for more time to determine the causes of an unprecedented outage on April 28 that cut 15 gigawatts of electricity from the peninsula’s grid.
Prime Minister François Bayrou confirmed that France’s 2025–2035 energy roadmap remains under discussion and will only be finalised after parliamentary debates starting on 16 June.
Prime Minister François Bayrou confirmed that France’s 2025–2035 energy roadmap remains under discussion and will only be finalised after parliamentary debates starting on 16 June.
The re-election of the Albanese government reassures energy stakeholders calling for regulatory adjustments to accelerate projects and secure long-term investment.
The re-election of the Albanese government reassures energy stakeholders calling for regulatory adjustments to accelerate projects and secure long-term investment.
SOGARA is launching a two-phase modernisation programme to increase the country's energy autonomy by 2030, with financing primarily from external sources.
SOGARA is launching a two-phase modernisation programme to increase the country's energy autonomy by 2030, with financing primarily from external sources.

Advertising