New Delhi: Saudi Arabia has agreed to consider India’s call for continued support from Riyadh to meet its growing demand for crude oil and natural gas while also looking at collaborative ventures between the two sides in hydrocarbons projects.
This was conveyed during an official visit of Petroleum Minister Dharmendra Pradhan to Saudi Arabia during which he held consultations with Assistant Minister for Petroleum and Mineral Resources Prince Abdul Aziz Bin Salman Bin Abdul Aziz, among others.
According to an official statement issued by India on Wednesday, the country not only conveyed its growing requirement for crude oil, but also touched on the conducive environment that was being created to increase oil refining capacity.
“Both sides also discussed specific issues concerning the public sector oil companies in India and Saudi Arabia. The Indian side said there was huge potential to further develop trade and investment relations especially in the oil sector,” the statement said.
“India invited Saudi companies, including Aramco, to participate and invest in crude oil storage facilities and down-stream industries in India.”
Minister Pradhan also invited Prince Abdul Aziz Bin Salman to visit India with a high-level delegation in the first quarter of the next year to take forward the fruitful talks held during the second round of Saudi Arabia India Energy Consultations.
