Guyana is working with the Indian government on awarding oil and gas exploration blocks to Indian companies, Vice President Bharrat Jagdeo said on Feb. 22.
The South American nation, home to one of the largest oil discoveries of the last decade, has also offered 14 offshore exploration blocks in its latest global auction round.
Jagdeo said the blocks to be awarded to Indian companies would be separate from those offered in the auction.
"Indian companies have expressed interest in the 14 blocks, but there are other areas [where] we're hoping to work directly with the Government of India, like...we're doing with Qatar and Brazil," Jagdeo told reporters at an event in New Delhi.
Guyana's president had said previously that his country was looking at awarding exploration blocks to Indian companies as part of broader negotiations with India.
India is the world's third biggest oil importer and consumer, buying over 84% of the oil it needs from overseas.
Indian companies are scouting for acreage overseas and want to secure oil supplies through long-term deals.
Biden Administration Proposes Crackdown on Power Plant Carbon Emissions
2023-05-11 - The plan is one of the biggest steps the Biden administration has taken to decarbonize the American economy to fight climate change.
EPA’s Emissions Proposals Could Hinge on Outcome of Texas Lawsuit
2023-04-24 - Decision on the Texas v. EPA lawsuit will influence whether new emissions proposals go into effect, says former DOJ official.
Upgrading Rules and Standards to Bolster the Energy Transition
2023-05-08 - To have a successful energy transition and deliver succinct, clear and achievable regulations, policymakers must lend an ear to the industry experts.
US Will Not Seek Secondary Sanctions on Russia: Reed Smith Analyst Says
2023-04-27 - Reed Smith partner Leigh T. Hansson spoke with Hart Energy during an exclusive roundtable discussion in Houston about the unlikelihood of secondary U.S. sanctions on Russia, as well as U.S. sanction policies on Venezuela and Iran.
Commentary: What’s Really Behind OPEC’s Sudden Oil Cut?
2023-04-14 - Federal policies that have hampered the U.S. oil and gas industry have also put OPEC+ in the driver’s seat with the ability to control and drive oil prices — at exactly the wrong time.