Updated: May 05, 2023, 06:49 PM IST
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India is the world’s third largest oil importer… MoreIndia, the world’s third largest oil importer, is working on a plan to enhance its energy security by buying most of Guyana’s oil production from its oil fields at lucrative rates through long-term contracts. Long-term supply agreements provide stability amid uncertain energy markets. Exxon Mobil, Guyana’s largest oil producer, intends to increase production to 1.2 million barrels per day by 2027.