India's biggest refinery starts buying Guyanese oil – Reuters
Photo: India's largest oil refinery has started purchasing Guyanese oil (Getty Images)
Two Indian oil refineries have purchased 4 million barrels of Guyanese crude oil from the American company ExxonMobil, Reuters reports.
Indian Oil Corp, India's largest refinery, has purchased 2 million barrels of Golden Arrowhead crude oil from Guyana, according to sources familiar with the matter.
According to them, the first batch will arrive in late December or early January. The Hindustan Petroleum Corp refinery purchased 2 million barrels of Liza and Unity Gold crude oil for delivery during the same period, the sources said.
This is its first purchase of this grade. According to the agency's sources, India is diversifying its crude oil supplies by testing new grades from South America, where production is growing.
Increasing the number of crude oil sources will also help refineries replace some of their Russian oil imports. The US is pressuring New Delhi to stop buying Russian crude oil to help end the war in Ukraine.
India and oil from Russia
In August 2025, amid Russia's ongoing war against Ukraine, the administration of US President Donald Trump decided to impose 50% tariffs on goods from India.
These measures were prompted by India's purchases of Russian oil, which Washington believed was helping to finance the Russian military machine. In response, the Indian government protested, calling the sanctions unfair and unjustified.
On the night of October 16, President Trump said that Indian Prime Minister Narendra Modi had promised to stop buying Russian oil.
Incidentally, US Treasury Secretary Scott Bessent previously stated that 85 US senators support 500% tariffs against China for continuing to buy oil from Russia.
