Indian refiners are turning to Guyana for supplies as new US restrictions on Russian oil reshape global buying patterns, prompting two supertankers to set out on a lengthy 11,000-mile journey to South Asia.
Ship-tracking data show that the Very Large Crude Carriers Cobalt Nova and Olympic Lion departed Guyana in the final days of November, each transporting roughly 2 million barrels of crude bound for India. Their arrival is expected in January, marking Guyana’s first crude shipments to that market since 2021, when only two 1-million-barrel cargoes made the trip.
India had been purchasing about 1.7 million barrels per day of Russian crude in recent years, taking advantage of discounted barrels. However, fresh US sanctions placed last month on Rosneft PJSC and Lukoil PJSC, Russia’s two largest exporters, have left Indian refiners exposed if they continue the trade. Buyers are increasingly cautious, especially following the earlier decision by US President Donald Trump to double tariffs on all Indian imports to 50% in August.
The Olympic Lion is transporting Guyana’s Golden Arrowhead crude to Paradip on India’s east coast, where state-owned Indian Oil Corporation operates a 300,000-barrel-per-day refinery. The cargo was purchased from ExxonMobil in an October tender.
Meanwhile, the Cobalt Nova is carrying a mix of Liza and Unity Gold crude grades. That shipment is expected to be discharged either in Mumbai or Visakhapatnam, home to Hindustan Petroleum Corporation’s refining operations. The company secured 1 million barrels of each grade for delivery between late December and early January.
The unusual long-haul route underscores the growing adjustments in global oil sourcing as refiners seek alternatives while navigating shifting geopolitical and economic pressures.
