Approximately 4 million barrels of Guyanese crude oil have been purchased by Indian representatives - Indian Oil Corp and Hindustan Petroleum Corp. The country is diversifying its supplies by testing new grades of crude oil from South America, UNN reports with reference to Reuters.
Details
Two Indian oil refining companies have purchased 4 million barrels of Guyanese crude oil from the large American company Exxon Mobil (XOM.N). Delivery is planned for late 2025 or early 2026. Imports to India from South America are a rare occurrence, trade sources note.
India's largest oil refinery, Indian Oil Corp, purchased 2 million barrels of Golden Arrowhead (GAH) oil.
Another Indian plant, Hindustan Petroleum Corp, also purchased Liza and Unity Gold crude oil for the first time. This involves the supply of 2 million barrels.
Guyana is increasing exports as oil production by the consortium led by US Exxon (a US oil corporation in New York State, one of the largest in the world - ed.) has grown to 770,000 barrels per day. This became possible after the launch of the group's fourth floating oil production complex.
Recall
Indian authorities commented on Donald Trump's words about abandoning Russian oil. Delhi stated that the priority is to protect the interests of the Indian consumer and diversify energy sources.