Particle.news
Download on the App Store
3 ARTICLES
·
last wk.

India’s IOC and HPCL Said to Buy 4 Million Barrels of Guyanese Oil

The reported buys signal supply diversification under an import policy focused on safeguarding consumers.

The Exxon Mobil Corp building is pictured in Georgetown, Guyana February 18, 2022. REUTERS/Sabrina Valle
Image
Image

Overview

  • Reuters, citing unnamed trade sources, reports Indian Oil Corp. and Hindustan Petroleum each purchased a 2‑million‑barrel cargo for delivery in late 2025 or early 2026.
  • Benzinga says ExxonMobil sold the cargoes, with IOC taking Golden Arrowhead crude and HPCL buying Liza and Unity Gold grades.
  • The move aligns with earlier Reuters reporting that some Indian refiners plan to start curbing Russian crude purchases from December 2025 under continuing U.S. pressure.
  • India’s Ministry of External Affairs reiterated that import decisions are guided by energy security, with spokesman Randhir Jaiswal emphasizing protection of consumers in a volatile market.
  • The oil is from Guyana’s Stabroek Block operated by ExxonMobil with partners CNOOC and Chevron, and the transactions remain reported rather than officially confirmed.