DILI, 09 february 2026 (TATOLI) — Timor-Leste’s Petroleum Fund fell by US$340 million in the fourth quarter of 2025, bringing the balance to US$18.61 billion, according to a report from the Central Bank of Timor-Leste (BCTL). The previous quarter’s balance stood at US$18.95 billion.
The report shows that during the quarter, total receipts amounted to US$11.37 million and gross investment income reached US$251.64 million, comprising US$91.48 million from interest/coupons and ividends received, and US$160.15 million from changes in market value.
As a result, the Petroleum Fund’s portfolio generated a quarterly return of 1.68% from financial markets, slightly above the benchmark of 1.58%.
During this quarter, total withdrawals from the Petroleum Fund amounted to US$604.34 million, of which US$600 million was transferred to the Treasury Account to finance the State Budget, while US$4.34 million was used to cover investment management costs.
In 2025, the Petroleum Fund opened with a balance of US$18.27 billion, and by December, total receipts had reached US$36.12 million. The net investment returns (after expenses and taxes) totaled US$1.75 billion, while transfers to the Treasury Account amounted to US$ 1.45 billion. The total investment returns in the financial markets for 2025 were 10.41%, slightly above the benchmark of 10.04%.
Since its establishment, the Petroleum Fund has accumulated approximately US$25.28 billion in receipts, with total investment returns of US$12.03 billion, averaging an annual return of 4.67%. Total withdrawals to finance the State Budget have reached US$18.86 billion.
Journalist: Camilio de Sousa
Editor: Filomeno Martins
