GEORGETOWN/NEW DELHI : India, the world's third-largest crude consumer and importer, has approached Guyana's government about a possible long-term deal to buy the South American country's oil, a Guyanese official said. If the crude is compatible, the parties could begin talks on a long-term arrangement. New Delhi is already exercising its growing clout in the crude market. "India is interested in taking Guyana's share of its crude, based on mutual agreements, as part of its crude source diversification across the world," said one source with knowledge of the talks, who spoke on the condition of anonymity. Venezuela and Ecuador, for example, have supplied large quantities of crude to China under such long-term deals.

Source: Mint April 24, 2021 17:26 UTC