Saudi Arabia to increase crude supplies to India ~ Today's News

Saudi Arabia is ready to increase its crude oil allocation to India with around 15 million tonnes (MMT) per year to almost 40 million tonnes. The Saudi Minister of Oil and Mineral Resources Ali bin Ibrahim Al-naimi says that the Indian minister for petroleum and natural gas Murli Deora recently in RiyadhIndia currently receives 25.5 million tonnes of crude oil per year in the kingdom.Deora had already hinted that India intends to double the supply of crude oil from Saudi Arabia as the grass of the three draft root refinery in Bhatinda, Bina and Paradip will be ready in the near future.Al-naimi to an end, said Saudi Arabia is well equipped to meet the needs of Indian companies, including public and private refineries.Deora is in Riyadh as part of a large group led by Prime Minister Dr. Manmohan Singh.Indian government units are also ready to establish an office in Riyadh in an effort to strengthen cooperation between the two countries in oil field services. India has also expressed its intention that the source of heavy crude oil from Saudi Arabia.Saudi Arabia has agreed today to increase the allocation of crude oil for delivery to India of around 25.5 million tonnes (MT) per year to around 40 million tonnes.At a meeting in Riyadh today with visiting petroleum and natural gas minister Murli Deora, Saudi Minister of Petroleum and Mineral Resources Ali bin Ibrahim al-naimi says his country is geared up to meet the needs of Indian oil companies, refineries, both in the private and the public sector.Mr. Deora, accompanying Prime Minister Manmohan Singh on his three-day visit to Saudi Arabia, naimi said India sought to double crude oil imports from Saudi Arabia as its three projects based on Bhatinda refinery, Bina and Paradip are nearing completion.Mr. Deora refers to greater opportunities for cooperation and calls on the Indian public sector oil companies (UPM), led by engineers of India Limited (EILU), next to open an office in Riyadh. Naimi welcomed the proposal.Both ministers felt that this would facilitate further cooperation in oil and business related services for projects with local companies, including private companies. EILU he had forwarded capabilities of non-ferrous metals, especially aluminum.India also seeing heavy crude oil from Saudi Arabia. For this, said President of Saudi Aramco, his company will consider.Discussions also focused on the exchange of technical personnel between the two countries and training in skills development in the oil and gas sector, an official press release said here.Saudi Arabia is ready to increase its crude oil allocation to India with around 15 million tonnes (MMT) per year to almost 40 million tonnes. The Saudi Minister of Oil and Mineral Resources Ali bin Ibrahim Al-naimi says that the Indian minister for petroleum and natural gas Murli Deora recently in RiyadhFeb. 28 (Bloomberg) - Saudi Arabia, the biggest oil exporter, agreed to nearly double shipments of crude oil to India and study of "improvement" of joint projects as the third largest economy in Asia to increase the supply of planned refineries.Ali al-naimi, oil minister in the largest Arab economy, agreed to increase crude supplies to India at 40 million tons per year, or around 770,000 barrels per day from 25.5 million tons per year, in a meeting today with counterpart Murli Deora, India's oil ministry said in a statement on its website.Indian Prime Minister Manmohan Singh on an official visit to Saudi Arabia, aims to ensure oil supply increased by strengthening of the Empire as the largest supplier of crude to India. Singh, Indian prime minister visits Saudi Arabia for 28 years, also aims to strengthen security ties."As India's largest supplier of crude oil, Saudi Arabia is well positioned to take advantage of the increasing energy demand in the third largest economy in Asia," John Sfakianakis, chief economist at Riyadh-based Banque Saudi Fransi said in a memo sent by e-mail.It is trying to increase the supply of three refinery projects Paradip, Bina and Bhatinda, the Ministry said. It will also seek import of more heavy crude oil producer, Saudi Aramco state, the statement said.The three new plants - Indian Oil Corp. 's Paradip refinery in the eastern state of Orissa, Hindustan Petroleum Corp.' s drive Bhatinda in Punjab in the north and Bharat Petroleum Corp. 's Bina plant in central Madhya Pradesh - India will increase the refining capacity of 178 million tons per year by nearly 20 percent at the end of 2012.The increase in imports from Saudi Arabia will bring oil to India in a Persian Gulf country of about 866,000 barrels per day. Saudi Aramco is already exporting about 1 million barrels per day to China instead of to the U.S., Chief Executive Officer Khalid Al-Falih said Jan 28th On average, the U.S. imported 1.01 million barrels of crude oil from Saudi Arabia last year, according to Energy Information Administration.New Delhi, 1 March, IRNA - Saudi Arabia to increase crude oil supplies to India with 14.5 million tons, with total deliveries to 40 million tonnes per year. The guarantee in this regard was given by the Saudi Arabian Minister of Petroleum and Mineral Resources Al-naimi said in Riyadh Sunday during a meeting with oil and natural gas minister Murli Deora, All India Radio (AIR) reported. Currently, Saudi Arabia supplied 25.5 million tonnes of crude oil to India each year. Naimi also said that Saudi ...Saudi Arabia said today that it would double the supply of crude oil to India around 40 million tonnes (Mt) per year, a move that will help India meet the growing demand for its refineries.Assurance came at a meeting between Minister of Oil and Gas Murli Deora and his Saudi counterpart, Ali bin Ibrahim Al-naimi, here today. Deora is a part of the delegation accompanying Prime Minister Manmohan Singh on a visit to Saudi Arabia.He said that India aims to double crude oil supplies from Saudi Arabia and its three projects in Bhatinda Refinery, Bina and end near Paradip. Naimi Deora said that his country will increase the allocation of crude oil for delivery in India at around 25.5 tonnes per year to around 40 meters, according to an official statement.The oil minister also talked about better opportunities for cooperation and asked the Indian Oil and public undertakings (PSUs), led by engineers of India Ltd (EILU) jointly an office in Riyadh. India also expressed interest in getting more heavy crude oil from Saudi Arabia and perform an exchange of technical personnel between the two countries and cooperate in education in developing skills in oil and gas sector.Singh made a few sales hard while facing the cameras Saudi influence of trade and industry. He invited Saudi businessmen to explore investment opportunities in India, especially in construction, manufacturing, pharmaceuticals, health, agriculture, energy, telecommunications, tourism and other services, for a significant improvement of bilateral trade, which hit nearly 25 billion U.S. dollars in 2008-09.Indian investment in the kingdom's stand at over 2 billion U.S. dollars, covering more than 500 joint ventures. Several large Indian companies have already established their presence in Saudi Arabia, said Singh, referring to the public sector undertaking Rites, which recently won a contract in the North-South Railway project.Feb. 28 (PTI) Saudi Arabia said Tuesday it will double the supply of crude oil to India for around 40 million tonnes (MMT) per year, a move that will help India meet the growing demand for its refineries. Assurance came at a meeting between Minister of Oil and Gas Murli Deora and his Saudi counterpart, Ali bin Ibrahim Al-naimi here in days.Deora is a part of the delegation accompanying Prime Minister Manmohan Singh on a visit to Saudi Arabia. He noted that India aims to double crude oil supplies from Saudi Arabia as the grass of the three draft root refinery in Bhatinda, Bina and end near Paradip.Deora naimi says his country will increase the allocation of crude oil for delivery to India of around 25.5 million tonnes (MMT) per year to around 40 MMT, according to an official statement. Petroleum Minister also referred to greater opportunities for cooperation and asked the Indian Oil and public undertakings (PSUs), led by engineers of India Ltd (EILU) jointly an office in Riyadh.The Saudi Arabian Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-naimi, said Minister of Oil and Gas Murli Deora, yesterday in Riyadh that the kingdom would increase the allocation of crude oil to India with around 15 million metric tons (MMT) per year for around 40 million tonnes.Earlier Deora said India sought a doubling of crude oil supplies from Saudi Arabia as the grass of the three draft root refinery in Bhatinda, Bina and Paradip is nearing completion.Al-naimi said his country wa designed to meet the needs of Indian companies, including public and private refineries.Deora is in Riyadh as part of a large group led by Prime Minister Dr. Manmohan Singh. He was accompanied by Arun Balakrishan, President and Chief Manging, Hindu Tran Petroleum Corp., Ashok Sinha, chairman and chief Manging, Bharat Petroleum Corp., and AK Purwaha, President and Chief Manging, Engineers India Ltd.The Saudi minister also welcomed the proposal Deora for oil of Indian public sector units to open an office in Riyadh to increase cooperation between the two countries in the oil-related services.