Jaimalphatta

🚨Guyana’s Big Oil Offer To India: 1 Million Barrels A Day, Refinery Partnership And A New Energy Corridor Guyana offers to supply up to 1 million barrels of crude oil per day, equivalent to nearly 20% of India's daily oil requirements of approximately 5 million barrels. Guyana's High Commissioner to India, Dharamkumar Seeraj, has expressed his country's willingness to become a strategic energy partner for India, offering a major opportunity at a time when global oil markets are facing geopolitical uncertainty, Western sanctions and instability in West Asia. Until recently, Guyana was a relatively small, agriculture-dependent economy. Its fortunes changed dramatically in 2015 following major offshore oil discoveries in the Stabroek Block. Commercial production began in 2019, transforming the country into one of the world's fastest-growing oil producers. With several offshore fields still awaiting development, Guyana aims to expand production towards 1.7 million barrels per day in the coming years. Why Is Guyana Choosing India? This partnership goes beyond crude oil exports. Guyana wants Indian companies, including ONGC Videsh, Indian Oil Corporation and HPCL, to invest in its oil fields, acquire equity stakes and participate in exploration and production. There are two major areas where Guyana specifically seeks Indian expertise. First, it wants India's assistance in developing domestic refineries through engineering expertise. Second, Guyana wants to establish a deep-water bunkering hub in the Atlantic Ocean. Bunkering involves supplying fuel to ships, an industry currently dominated by hubs such as Singapore, Fujairah and Rotterdam. India's experience in developing port infrastructure and maritime fuel facilities makes it a valuable potential partner.