Adani Indictment Amid India-Guyana Bonhomie, claims Viral Post

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Guyana Fast Growth with Oil Discoveries Has India in Geostrategic Spin

By Raisina Correspondent

New Delhi, November 21: The US Federal Court indicted billionaire Gautam Adani and senior executives for bribery charges on a day when Prime Minister Narendra Modi was visiting Guyana. The Caribbean nation is cruising on astounding growth rates on the back of thriving oil businesses.

In a ceremony at the State House, Mohamed Irfaan Ali, President of the Co-operative Republic of Guyana, conferred upon Prime Minister Narendra Modi the highest national award of Guyana – ‘The Order of Excellence’ for his ‘visionary statesmanship, for championing the rights of developing countries on the global stage, for exceptional service to the global community and for his commitment to strengthening India-Guyana relations’.

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While accepting the award, the Prime Minister dedicated the honour to the people of India and to the deep-rooted historical ties between the people of the two countries. He emphasized that his State visit is testament to India’s continued commitment towards deepening India-Guyana friendship.

The Prime Minister is only the fourth foreign leader to be conferred with the highest National award of Guyana. Around the same time, the Attorney for the US Justice Department released indictment statement against Adani and his senior executives for plans to bribe for solar power project contracts in India.

“This hit job by oil lobby on Adani is nothing but response to Modi cosiness with Guyana,” read a viral WhatsApp post which is being shared on several of the investment groups. The post explained the reason for warming up of India-Guyana relations.

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“Guyana is being seen as one of the most critical growth areas for non-OPEC oil production. By 2026, Guyana is expected to surpass neighbouring Venezuela in oil production,” read the post, noting potential of the Caribbean Island nation in the geostrategic oil businesses.

“Guyana has clocked largest GDP per capita growth in the world in recent years at 33 per cent in 2023, 62 per cent in 2022 and 30 per cent in the two previous years,” read the viral post further. It added that a company in 2015 discovered 11 billion barrels of oil in Guyana.

“New discoveries of oil are almost 18 per cent of total global oil and gas discoveries and 32 per cent of discovered oil,” said the viral post while making assessment of Guyana’s oil business potential.

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With Modi at the helm, India has been diversifying its oil import basket. After the outbreak of the Ukraine War, India deftly shifted focus to Russia to import oil and afterwards even coal.

“India wants to sign a multi-year oil purchase deal with Guyana and acquire stakes in the South American nation’s exploration areas,” the viral post said, quoting Guyana’s minister for natural resources Vickram Bharrat.

The Adani Group has been foraying into diverse areas in the recent years. The Adani Group already has interest in gas distribution, besides renewable energy projects.

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