ExxonMobil Expands Reach With Guyanese Crude Exports to India

Core Insights - Exxon Mobil Corporation (XOM) has sold four million barrels of Guyanese crude oil to two refiners in India, marking a significant expansion of Guyana's role in the global oil market [1][8] - The shipments are scheduled for delivery at the end of 2025 or early 2026, reflecting India's strategy to diversify its energy sources amid geopolitical pressures [1][4] Indian Refiners' Purchases - Indian Oil Corporation, the largest refiner in India by capacity, has purchased 2 million barrels of the newly introduced Golden Arrowhead (GAH) crude, with expected delivery between late December 2025 and early January 2026 [2] - Hindustan Petroleum Corporation has also procured 2 million barrels of Liza and Unity Gold crudes, scheduled for delivery within the same timeframe, indicating India's growing interest in South American oil [3] Guyana's Oil Production Growth - Guyana's oil production has surged to 770,000 barrels per day (bpd) following the commissioning of its fourth floating production facility, with crude exports reaching an all-time high of 938,000 bpd in October [5][8] - The introduction of the GAH grade in July has contributed to this increase in exports [5] U.S. Energy Companies' Influence - The developments highlight the increasing influence of U.S.-led ventures in the energy landscape of the western hemisphere, with ExxonMobil, Chevron Corporation, and ConocoPhillips ramping up international operations [6][7] - Chevron is deepening investments in Latin America, particularly in Venezuela and Guyana, while ConocoPhillips is expanding its presence in the global LNG market and high-return shale plays [7]