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India should bid for long-term oil contract: Guyana
India should bid along with other companies if it wants to secure a long-term oil contract with Guyana, the country’s vice-president Bharrat Jagdeo said.
Guyana concluded a successful bid by India for its last shipment of crude but “we don’t want to be doing this on the short term”, he said, adding Guyana does not want to go into a bilateral arrangement.
“I am hoping that within a matter of weeks a decision would be made that will settle who sells our oil for the next, may be, a year at least, one-year contract,” Jagdeo said in a video interview transcript.
Indian state-controlled refiner IOC had bought Liza crude from Guyana as part of a move to expand its purchase options. The company had chartered the Militos to take the crude cargo from Guyana to Paradip, on India’s east coast. The Suezmax is carrying 1mn bl of Liza and will reach Paradip this week, shipping data from Vortexa showed.
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