Indian Refiners Secure 4 Million Barrels of Guyanese Crude from Exxon Mobil
In a rare move to diversify energy imports, two major Indian refiners have purchased a total of 4 million barrels of crude oil from U.S. energy giant Exxon Mobil, marking a significant step in expanding India’s sourcing footprint to South America. According to trade sources, Indian Oil Corporation (IOC), the country’s largest refiner, has acquired 2 million barrels of Guyana’s Golden Arrowhead (GAH) crude — its first purchase of the grade — with deliveries expected between late December 2025 and early January 2026.
Hindustan Petroleum Corporation Ltd (HPCL) has also joined the shift, securing 2 million barrels of Liza and Unity Gold crude, scheduled for delivery during the same period. This marks HPCL’s first import of Guyanese oil grades as India continues efforts to diversify its crude basket amid global market shifts and geopolitical pressures.
India’s move comes as Guyana ramps up oil production through a consortium led by Exxon Mobil, which has boosted output to 770,000 barrels per day following the start of its fourth floating production facility. The South American nation’s crude exports hit a record 938,000 barrels per day in October, driven by the addition of new grades like Golden Arrowhead.
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