India diversifies its crude procurement; First shipment from Guyana arrives next month

Next month, India is set to receive its first shipment of one million barrels of Liza Crude Oil from Guyana. This is the first purchase of Guyanese crude oil from the Government of Guyana’s share of oil by an Indian PSU refiner – Indian Oil Corporation Ltd (IOCL). According to the Indian Mission in that country, the oil tanker left the shores on July 4-5, 2021 and will be reaching the Paradip Port in India in the first week of August.

This purchase was possible because of the Indian Mission’s active coordination with the Ministry of Petroleum and Natural Gas and Ministry of Natural Resources of the Government of Guyana. And for this procurement, the IOCL facilitated finalization of this arrangement between IOCL and the Government of Guyana.