News Snapshot:
By Scott B. MacDonald India is one of the world’s major oil consumers and Guyana is an up-and-coming petro-power. In March 2021, HPCL-Mittal Energy Ltd, a joint venture between state-run Hindustan Petroleum Corporation and Mittal Energy Investment, bought India’s first shipment of Guyanese oil. This was followed in July 2021 with India’s top refiner, state-owned Indian Oil Corporation (IOC), buying a second shipment of Guyanese crude. While these purchases are a drop in the bucket of global oil sales, they represent a potential new element in the changing face of geopolitics in the Southern Caribbean and could represent an opportunity...
