India buys oil from Guyana for first time, cutting imports from Russia - Reuters
Two Indian refineries have purchased 4 million barrels of oil produced in Guyana from the American company Exxon Mobil. Deliveries are expected in late 2025 - early 2026.
This was reported by Reuters, Censor.NET reports.
According to the agency's sources, Indian Oil Corp has purchased 2 million barrels of Golden Arrowhead (GAH) oil for the first time, and Hindustan Petroleum Corp has purchased another 2 million barrels of Liza and Unity Gold. These are the first deliveries from the South American country for both companies.
India is expanding the geography of suppliers, gradually replacing Russian oil with new varieties from South America. Washington is pressuring New Delhi to reduce purchases from Moscow, considering this an important factor in ending the war in Ukraine.
Meanwhile, Guyana is ramping up production and exports: a consortium led by Exxon Mobil has already increased production to 770,000 barrels per day, and in October exports reached a record 938,000 barrels per day.
It was previously reported that some Indian refineries are preparing to gradually reduce imports of Russian oil.
