India has expressed interest in locking in an agreement for purchasing at least two million barrels of crude oil at a time but Guyana has maintained its position that it is not yet ready for a fixed agreement and will focus on the MoU signed yesterday that focuses on other opportunities.
“They made several requests to purchase crude through a bilateral agreement, more like a long-term arrangement, but the request is also to do a lift of 2m barrels when the time comes. Right now our hard logistics is accommodating 1m barrels per lift so they require if we get any agreement which we haven’t gotten to…,” Minister of Natural Resources Vick-ram Bharrat explained, following the announcement of the signing yesterday of a MoU on energy.
