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India s top refiner buys its first Guyanese oil: Source
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India s top refiner buys its first Guyanese oil: Report
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Updated:
India s oil demand has risen by 25% in the last seven years
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Vessels carrying supplies for an offshore oil platform operated by Exxon Mobil are seen at the Guyana Shore Base Inc wharf on the Demerara River, south of Georgetown, Guyana. File photo
| Photo Credit:
REUTERS
India s oil demand has risen by 25% in the last seven years
India, the world s third-largest crude consumer and importer, has approached Guyana s government about a possible long-term deal to buy the South American country s oil, a Guyanese official said.
India has expressed interest in buying one of the 1 million-barrel cargoes Guyana s government is entitled to in order to test the crude in its refineries, according to Guyana s Natural Resources Minister Vickram Bharrat. If the crude is compatible, the parties could begin talks on a long-term arrangement.