Energy Markets
Sources say that Indian refiners rarely purchase Guyanese grades
Sources in the trade said that two Indian refiners bought 4,000,000 barrels of Guyanese oil from Exxon Mobil, a U.S.-based major, to be delivered by the end of 2025, or early 2026. This is a rare import from the South American producer. Indian Oil Corp., the largest refiner in the country by capacity, purchased 2 million barrels (or a grade of crude oil called Golden Arrowhead) for its first purchase. The shipment will arrive late December or early January. Sources said that Hindustan Petroleum Corp., another refiner, had purchased Liza and Unity Gold for the first time. 2 million barrels...