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

27 Nov 2024 CW Team

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.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..