+
PM Modi Seeks Energy Security from Guyana's Vast Oil Reserves
OIL & GAS

PM Modi Seeks Energy Security from Guyana's Vast Oil Reserves

Indian Prime Minister Narendra Modi concluded a two-day visit to Guyana, underscoring the country's significance to India's energy security. During his address to the Guyanese Parliament, Modi highlighted the potential of Guyana’s vast offshore oil and gas reserves in strengthening India’s energy needs.

Modi’s visit came a day after India’s Foreign Minister, Jaideep Mazumdar, expressed interest in purchasing up to two million barrels of crude oil from Guyana. Guyana currently produces approximately 650,000 barrels of oil per day, and production is projected to surpass one million barrels daily within the next three years as more oilfields come online.

Modi also emphasized plans to encourage Indian businesses to invest in Guyana's energy sector. While India was unable to finalize a long-term oil sale agreement during the visit, both nations signed a memorandum of understanding (MoU) to enhance cooperation in hydrocarbon trade.

However, Guyanese Natural Resources Minister Vickram Bharrat stated that discussions with ExxonMobil, the main operator in Guyana's oil sector, would be needed to finalize the sale terms. He mentioned that any agreement would require logistical adjustments by ExxonMobil due to the scale of the deal.

Indian Prime Minister Narendra Modi concluded a two-day visit to Guyana, underscoring the country's significance to India's energy security. During his address to the Guyanese Parliament, Modi highlighted the potential of Guyana’s vast offshore oil and gas reserves in strengthening India’s energy needs. Modi’s visit came a day after India’s Foreign Minister, Jaideep Mazumdar, expressed interest in purchasing up to two million barrels of crude oil from Guyana. Guyana currently produces approximately 650,000 barrels of oil per day, and production is projected to surpass one million barrels daily within the next three years as more oilfields come online. Modi also emphasized plans to encourage Indian businesses to invest in Guyana's energy sector. While India was unable to finalize a long-term oil sale agreement during the visit, both nations signed a memorandum of understanding (MoU) to enhance cooperation in hydrocarbon trade. However, Guyanese Natural Resources Minister Vickram Bharrat stated that discussions with ExxonMobil, the main operator in Guyana's oil sector, would be needed to finalize the sale terms. He mentioned that any agreement would require logistical adjustments by ExxonMobil due to the scale of the deal.

Next Story
Infrastructure Urban

Revolt Motors Unveils ‘Azadi From Petrol’ Offer

To mark India’s 78th Independence Day, Revolt Motors, the country’s leading electric motorcycle brand, has introduced its special “Azadi From Petrol” offer, encouraging riders to break free from rising fuel costs and embrace smarter, sustainable mobility.Under this limited-period scheme, customers purchasing any Revolt electric motorcycle can enjoy benefits worth up to Rs 20 million. The package includes zero insurance fees, providing free coverage valued at up to Rs 7 million, along with cash savings of up to Rs 13 million.The initiative highlights Revolt’s mission to make electric ..

Next Story
Infrastructure Energy

Inox Green Signs 182 MW Wind O&M Deal

Inox Green Energy Services Ltd., one of India’s leading renewable energy operations and maintenance (O&M) providers, has signed an agreement with a major diversified Indian conglomerate for the comprehensive O&M of 182 MW of operational wind projects under its renewable energy division.Located across multiple sites in Western India, these projects are integrated with common infrastructure owned by Inox Green. The deal includes converting 82 MW of wind projects from limited-scope to comprehensive O&M, as well as renewing comprehensive O&M for another 100 MW well ahead of sched..

Next Story
Infrastructure Urban

MPL Q1 Profit Rises to Rs 144 Million

Manali Petrochemicals Limited (MPL), a leading petrochemical manufacturer and part of AM International, Singapore, has reported its unaudited consolidated financial results for the quarter ended 30 June 2025.The company posted a consolidated total income of Rs 2.43 billion for the quarter, up from Rs 2.38 billion in the preceding quarter ended 31 March 2025. Profit Before Tax (PBT) stood at Rs 200 million, compared to Rs 159 million in the previous quarter, while Profit After Tax (PAT) rose to Rs 144 million from Rs 108 million. For the full year ended 31 March 2025, MPL recorded a total incom..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?