India has sought Saudi Arabia’s support for long-term oil imports. Petroleum Minister Dharmendra Pradhan, currently visiting that nation, took up India’s additional requirement of crude oil and liquefied petroleum gas (LPG) and investment opportunities with assistant minister for petroleum and mineral resources Prince Abdul Aziz Bin Salman Bin Abdulaziz.
Pradhan also met minister for petroleum and mineral resources Ali bin Ibrahim Al-Naimi and invited the world's largest oil exporter to invest in strategic crude oil storages and downstream facilities in India.
“The Saudi side assured affirmative consideration of India’s growing demand for crude and LPG, while also agreeing to look into the issues underlined by India concerning trade and investment in hydrocarbon sector between the two countries,” said an official statement.
Both sides discussed issues concerning public sector oil companies in India and Saudi Aramco. The Indian delegation invited Saudi companies, including Aramco, to participate and invest in crude oil storage facilities and downstream industries in India. India sources over 20 per cent of its crude imports from Saudi Arabia. It is the largest supplier of LPG to India.
Source: Business Standard
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