Nigeria to enhance crude supply to India

New Delhi, Sep 13 (UNI) Nigeria will hike crude oil supplies to India by enhancing the term contract volume and speed up the process of setting up a refinery in the West African state by India.

During the bilateral meeting with Nigeria at the ongoing OPEC meeting at Vienna; Petroleum Minister Murli Deora said the West African country is currently increasing its volume of crude export.

Nigeria's Minister of State for Petroleum Dr Edmund Daukoru and the current President of OPEC Conference, stated that Nigerian crude oil production is on the increase and agreed to favourably consider enhancing the term contract volume as and when additional volumes become available with them.

Dr Daukoru sought Indian investment in refineries in Nigeria and in this regard, Mr Deora pointed out that the MoU signed between IOCL and Edo state of Nigeria for setting up of a refinery should be put on fast track.

In his meeting with Mr Abdullah Bin Hamad Al Attiyah, the second Deputy Prime Minister and Ministry of Energy and Industry, Qatar, Mr Deora reiterated India's keen interest for additional volume of LNG.

Mr Deora also sought active participation of Qatar in the Indian hydrocarbon and petrochemical sector through appropriate investments. The Minister has extended an invitation to the Qatar's Deputy Prime Minister to visit Delhi.

In a luncheon meeting, the Iraqi Oil Minister Mr Hussain Al-Shahristani invited active participation of India in the downstream sector of Iraq. Mr Deora said India would fully support Iraq in its reconstruction, including active participation by Indian companies in the downstream oil sector of Iraq.

Mr Deora informed that ONGC Videsh Ltd had already started working on the Exploration Block 8 in Iraq where the work was suspended in the wake of the war situation. OVL is keen to restart the work. The Minister expressed ONGC's OVL interest in commencing negotiations on the Tuba field in Iraq. The Iraqi Minister acknowledged the work done by OVL and assured full support.

UNI RT SBA DS1500