India's Largest Refinery Has Started Buying Guyanese Oil

The first shipment will arrive at the end of December.

Two Indian refineries have bought 4 million barrels of Guyanese crude from US company ExxonMobil.

It was reported by Reuters.

India's largest refinery by capacity, Indian Oil Corp, has reportedly purchased 2 million barrels of Golden Arrowhead grade Guyanese crude, agency sources said.

The first shipment will arrive in late December or early January, they said. Refiner Hindustan Petroleum Corp bought 2 million barrels of Liza and Unity Gold grade crude with deliveries in the same period, the sources said.

This is its first purchase of the grade. The agency's sources said India is thus diversifying its crude supply by testing new grades from South America, where production is rising.

The increased sources of crude will also help refiners replace some imports of Russian crude. The U.S. has been pressuring New Delhi to stop buying Russian crude to help end the war in Ukraine.

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