India keen on importing more oil from Brazil

 

India keen on importing more oil from Brazil

Deccan Herald: India on Wednesday expressed interest in raising the import of crude oil from Brazil as the world’s third largest consumer is looking at diversifying its import basket beyond the highly volatile Middle East region.

Oil minister Dharmendra Pradhan met visiting the Brazilian minister for mines and energy Bento Albuquerque to review cooperation between the two countries.

“India is diversifying its crude oil supply and our oil companies have expressed interest in sourcing more crude from Brazil if offered favorable commercial terms” , Pradhan tweeted after the meeting.

India imports 84% of its oil needs and two thirds of its import come from the Middle East with Iraq and Saudi Arabia being the top suppliers.

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