NEW DELHI: India has offered Saudi Arabia a stake in the second phase of the south Asian nation’s yet-to-be-built strategic oil reserves, Oil Minister Dharmendra Pradhan said in New Delhi on Friday.
The government also discussed with Saudi Arabia investment opportunities in a proposed oil refinery with 1.2 million barrels per day of capacity on the west coast of India and a petrochemicals project in the south of India, Pradhan said.
Pradhan said India has sought reasonable oil prices from Saudi Arabia that will make crude economical to Indian state-owned refineries without hurting the ‘interest’ of Saudi Arabia.
India offers Saudi Arabia stake in second phase of strategic oil reserve
India offers Saudi Arabia stake in second phase of strategic oil reserve
