India imported approximately 297,000 barrels per day (b/d) of crude oil from Guyana in January, according to data cited by Indian news agency, Economic Times, in a January 22 report.
According to the news agency, the data was gleaned from a report by global analytics firm Kpler, showing that the crude was sourced during the first half of January. This marks a notable re-entry of Guyanese crude into India’s import mix.
The move comes as Indian refiners race to secure alternative supplies and fill gaps created by tighter U.S. sanctions on Russian oil. The sanctions have disrupted Russia’s discounted crude trade with major buyers China and India, leaving millions of barrels stranded on tankers.
“Guyana is rapidly emerging as a new global oil producer backed by major discoveries and fast-rising output,” the Economic Times reported. It however, noted that Guyana has remained outside India’s preferred sourcing basket due to the long shipping distance. “With Russian supplies declining, Indian refiners are now increasingly tapping Guyana as an alternative,” the report added.
However, this isn’t the first time India has procured Guyana’s crude since the United States ban on Russian oil. In November 2025, S&P Global Commodity Insights reported that India purchased volumes of Guyana’s crude that had been displaced by oversupply in European markets.
Europe, traditionally the largest buyer of Guyanese crude, has become saturated with sweet barrels, intensifying competition and pressuring price differentials. This oversupply has coincided with a sharp increase in Guyana’s oil output following the start-up of ExxonMobil’s Yellowtail project in August 2025.
Yellowtail, Guyana’s fourth offshore development, has reached its initial production target of 250,000 b/d. Strong performance from Liza Phase 1, Liza Phase 2, and Payara has further lifted national production to almost 900,000 b/d.
Exxon Mobil Guyana Limited (EMGL) is the operator of the prolific Stabroek Block, where all of Guyana’s crude is currently being produced. The U.S. oil major has a 45% stake in the block, with co-venturers Hess (recently acquired by Chevron) holding 30% and CNOOC holding the remaining 25%.
