Guyana May Hold Talks With India To Sell Crude
NDTV
Oil producer Guyana could resume talks with India for a deal to sell the government's share of crude as output rises next year
Oil producer Guyana could resume talks with India for a deal to sell the government's share of crude as output rises next year, the South American nation's vice president told Reuters.
Earlier this year, Indian refiners bought at least two test cargoes of Guyana's Liza light sweet crude. But government-to-government negotiations on a term supply agreement stalled on price and other contract terms, and Guyana later struck a one-year marketing deal with a unit of Saudi Aramco.
India's oil secretary Tarun Kapoor this week said the world's third largest oil consumer is forming a group that will bring together state-run and private refiners to seek better crude import deals.
Guyana produces up to 120,000 barrels per day of crude through a consortium led by Exxon Mobil from a single floating production storage and offloading system (FPSO). The group has discovered about 10 billion barrels of recoverable oil resources off the coast of Guyana.
