International reports published earlier this week indicate that India can be expected to look increasingly to diversified sources, not least Guyana, to secure its oil imports, as the country seeks to attach a high priority to further diversifying its energy sourcing basket in an effort to avoid becoming hostage to international pricing and supply shocks.
Earlier this week, the international energy media source, Energy News Network, reported that the US and the Caribbean are emerging as “new hotspots” for crude oil imports by India which last year, ranked third behind China and the United States as the world’s leading oil importers.