Indian Refiners Break New Ground with First Guyanese Crude Oil Cargoes from ExxonMobil for December-January Delivery

Indian refiners have expanded their crude import portfolio by acquiring oil from the emerging South American producer, Guyana. IOC has purchased 2 million barrels of the Golden Arrowhead grade, while HPCL has secured another 2 million barrels blending Liza and Unity Gold crude. Both deliveries are slated for late December 2025 or early January 2026.

This milestone reflects India’s ongoing efforts to reduce dependence on traditional suppliers such as the Middle East and Russia. Guyana’s offshore oil production, led by ExxonMobil’s Stabroek block discoveries, has rapidly scaled up, offering light sweet crude varieties suited to Indian refineries’ preferences. The move also aligns with India’s strategy to enhance energy security through supplier diversification amid global geopolitical shifts.

Notable Updates:

IOC acquires 2 million barrels of Golden Arrowhead crude from ExxonMobil.

HPCL secures 2 million barrels of Liza and Unity Gold crude, both deliveries planned for December 2025 to January 2026.

These transactions represent India’s first-ever crude imports sourced from Guyana.

Guyana’s oil production is expanding rapidly, with ExxonMobil operating major offshore fields producing high-quality crude.

India is diversifying its crude basket away from Middle East and Russian oil due to evolving geopolitical and trade dynamics.

The purchases signal growing commercial and energy ties between India and Guyana.

Industry Context:

This latest development follows earlier efforts by Indian refiners to diversify crude sources, including previous trial cargoes acquired by HPCL-Mittal Energy and Indian Oil Corp in 2021. The shift also comes amid changing global oil markets where OPEC+ supply strategies and U.S. sanctions on Venezuelan oil have prompted India to explore alternative suppliers.

Sources: Reuters, The Economic Times, Deccan Herald