India wants to sign a multi-year oil purchase deal with Guyana and acquire stakes in the South American nation’s exploration areas, the Guyanese minister for natural resources said on Thursday.
“We will make a decision at some point in time” on crude oil sales to India in a long-term deal, Vickram Bharrat told reporters on the sidelines of industry event India Energy Week in Goa.
He said any such deal with India would have to be approved by Guyana’s cabinet.
India, the world’s third-biggest oil importer and consumer, wants to diversify its crude sources.
