Wedoany.com Report-Oct. 17, Two Indian refiners have purchased a total of 4 million barrels of crude oil from Guyana, marking their first imports from the South American producer, according to trade sources on Friday. The purchase was made from U.S. energy company Exxon Mobil and is scheduled for delivery either at the end of 2025 or in early 2026.

The Exxon Mobil Corp building is pictured in Georgetown, Guyana February 18, 2022.

Indian Oil Corporation (IOC), the country’s largest refiner by capacity, has acquired 2 million barrels of Golden Arrowhead crude. The shipment is expected to arrive between late December 2025 and early January 2026, the sources said. The transaction highlights India’s efforts to diversify its crude supply sources amid changing global energy market conditions.

Hindustan Petroleum Corporation (HPCL) has also procured 2 million barrels of crude, consisting of Liza and Unity Gold grades, which are scheduled for delivery within the same timeframe. Both refiners’ purchases represent a significant step in broadening India’s crude import portfolio beyond traditional suppliers.

Guyana has emerged as one of the world’s fastest-growing oil producers in recent years following major offshore discoveries led by Exxon Mobil and its partners. The country’s flagship crude grades, including Liza, Unity Gold, and Golden Arrowhead, are known for their light and sweet quality, making them attractive to refiners seeking to produce higher-value fuels with lower emissions.

The two refiners’ deals come as India continues to balance its crude imports among suppliers in the Middle East, Africa, the United States, and Latin America. These purchases from Guyana reflect growing cooperation between Indian refiners and emerging global oil producers, while ensuring stable energy supply lines to meet India’s expanding consumption needs.

For Guyana, the agreements with Indian refiners further strengthen its presence in Asian markets, diversifying its export destinations beyond the Americas and Europe. The move also reflects Exxon Mobil’s increasing role in facilitating trade between Guyanese oil producers and new international buyers as the country’s output continues to expand.

Analysts note that the new crude supplies could provide Indian refiners with greater operational flexibility, given the favorable refining characteristics of Guyanese oil. The deal also aligns with India’s strategy to secure long-term energy partnerships while optimizing refinery performance through a wider range of feedstock options.

Both IOC and HPCL have been active in exploring opportunities to import new crude grades that can enhance product yields and competitiveness. While financial details of the purchases were not disclosed, the shipments mark a milestone in India-Guyana energy cooperation and demonstrate India’s growing engagement with emerging oil suppliers across the globe.

The transactions, once completed, are expected to deepen commercial ties between India and Guyana while contributing to both countries’ broader energy trade and development goals.