February 11, 2010Iraq offers more crude oil supply to India
New Delhi, Feb. 11
Iraq has offered to increase long-term crude oil supply arrangement to India and invited Indian companies to invest in its refining sector.
The Minister of Industry and Minerals of the Republic of Iraq, Mr Fawzi F Hariri, during his meeting with the Minister of Petroleum and Natural Gas, Mr Murli Deora, here on Wednesday, offered more supply of crude oil to Indian refiners stating that Iraq is ramping up its current crude oil production capacity substantially in next few years.
He also invited Indian companies to invest in the refining sector in Iraq with assured supply of crude oil, according to an official statement. The Iraqi Minister also said that long-term crude oil supply arrangement could be made for Indian refiners.
Mr Deora offered utilisation of upcoming crude oil storage facility in India to Iraq. The visiting Minister expressed keen interest in the proposal as the crude oil could be conveniently supplied to various importing centres from the Indian location, the statement said.
Service of Engineers India Ltd for developing oil sector infrastructure in Iraq was also offered
thehindubusinessline
