ExxonMobil Expands Reach With Guyanese Crude Exports to India

Exxon Mobil Corporation XOM has sold four million barrels of Guyanese crude oil to two refiners in India, per Reuters.

This marks a notable expansion of Guyana’s growing presence in the global oil market. The cargoes, to be delivered at the end of 2025 or in early 2026, reflect India’s strategic move to diversify its energy sources amid geopolitical and trade pressures.

Indian Oil Corporation has purchased 2 million barrels of Golden Arrowhead (“GAH”) crude. This is Indian Oil Corporation’s, India’s largest refiner by capacity, first acquisition of the newly introduced grade. The shipment is expected to arrive between late December 2025 and early January 2026.

Meanwhile, another refiner, Hindustan Petroleum Corporation, has procured another 2 million barrels of Liza and Unity Gold crudes, also scheduled for delivery within the same timeframe. These transactions signify India’s increasing interest in South American oil as it broadens its crude basket beyond traditional suppliers.

The deal comes at a time when India faces mounting pressure from the United States to reduce its reliance on Russian oil imports. Earlier this year, the U.S. administration under President Donald Trump imposed an additional 25% tariff on Indian goods entering the American market, an action the Indian government strongly criticized, warning of potential risks to India’s energy security.

Guyana, emerging as a key player in the global oil industry, has seen production soar under a consortium led by ExxonMobil. Output has climbed to 770,000 barrels per day (bpd) after the commissioning of its fourth floating production facility. Per data from analytics firm Kpler, the South American nation’s crude exports reached an all-time high of 938,000 bpd in October, bolstered by the introduction of the GAH grade in July.

This latest development underscores the growing influence of U.S.-led ventures in the western hemisphere’s energy landscape. Alongside ExxonMobil, other oil giants like Chevron Corporation CVX and ConocoPhillips COP are ramping up international operations.

Chevron has been deepening its investments in Latin America, particularly in Venezuela and Guyana’s offshore blocks, while ConocoPhillips continues to expand its presence in the global LNG market and high-return shale plays. Together, these firms illustrate how U.S. energy companies are leveraging strategic partnerships and new discoveries to maintain a stronghold in the evolving global oil trade.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research