Following the approval of India’s cabinet to a proposed Memorandum of Understanding (MOU) to deepen the energy relations between Georgetown and New Delhi, Foreign Minis-ter of the South-Asian country Subrahmanyam Jaishankar will be in Guyana to sign the document, the government announced yesterday.
“The MoU will deal with a number of issues. The MoU will deal with exploring the possibility of trading in crude oil, that is [the] sale of crude oil, but we agreed with the minister that this has to be beneficial to both countries and it has to follow market conditions. There is no agreement to sell any oil to India at this point in time. And any such agreement in the future will have to be competitive and will have to benefit both parties,” Vice President Bharrat Jagdeo, who on Monday returned from a trip to India, told a press conference.