Miscellaneous

Indian refiners secure first Guyanese oil, enhancing energy security.

Two Indian refiners, Indian Oil Corporation and Hindustan Petroleum Corporation, have made their inaugural purchases of crude oil from Guyana, acquiring a total of 4 million barrels from Exxon Mobil. Indian Oil has procured 2 million barrels of Golden Arrowhead crude, while Hindustan Petroleum has secured 2 million barrels of Liza and Unity Gold crude, both shipments expected to arrive by late 2025 or early 2026. This development marks a significant step in diversifying India’s energy sources, aligning with the nation’s strategic goal of enhancing energy security and reducing dependence on traditional suppliers. As India seeks to bolster its geopolitical influence, these transactions reflect the growing importance of South America in the global energy market and India’s proactive approach to securing vital energy resources.

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