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Guyana: No agreement with India to sell oil
The Guyana government says it has not entered into any agreement with India regarding the sale of crude oil to the Asian country, even as it left open the possibility of that being undertaken in the future.
“We have not discussed any element of direct transaction for the sale of our crude to India,” Vice-President Bharrat Jagdeo told reporters as the Indian Prime Minister Shri Narendra Modi ended an official visit to Guyana.
The communique issued following bilateral talks between the two countries “is very clear” and the two countries have expressed an interest in collaborating in several areas.
“India has enormous expertise in many areas, but also clean energy, India is leading in solar in the world…on the fertiliser plant they are doing some studies for us to use the gas to build a fertiliser plant.
“So in the whole hydrocarbon sector, there are lots of areas we can utilise Indian skills, Indian technology and also Indian investments.
“We have not discussed any element of a direct sale to India at this stage because our crude for the next year, we have people who will market our crude. We just went through a public process for tender, and two companies won the right to market our crude for next year,” said Jagdeo.
Jagdeo said in the communique “there’s lot to work on and in the future, I think, if it makes sense for both parties…we should work towards something like that. We don’t have a problem with that, but there is nothing that we have worked on that will result in any sale of crude in the next year or so because we already have people to market our crude,” Jagdeo said.
He told reporters some of the Indian companies do buy from other places “that market our crude, so some of our crude have gone to India already”.
Asked what would make it more likely for an agreement to be reached in the future, Jagdeo replied, “I do not want to speculate before there is a specific proposal on the table. But those concerns have been raised a long while a back, not now.
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