FINANCIAL NEWS

Saudi to double oil exports to India

28 Feb 2010

(MENAFN) India’s Oil Minister said that Saudi Arabia is willing to boost its crude exports to the south Asian country to 40 million tons, up from the current 25.5 million tons, Reuters reported.

The Indian Oil Minister, Shri Murli Deora met his Saudi counterpart Ali al-Naimi in Riyadh and addressed India’s rising needs for energy. India is looking to nearly double crude oil supply from Saudi Arabia.

India also indicated sourcing heavier crude from the Kingdom, but without disclosing a time frame for the increase in Saudi crude supplies to India.

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