Skip to main content
IRAN Energy News Agency
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel

Saudi Aramco Expands in India

Saudi Arabia is competing with Iraq to be India’s top oil supplier, with Iraq displacing it for a fifth month in a row in August.

Saudi Aramco launched a new Indian venture near New Delhi, a government statement said on Sunday, as the global oil exporter looks to tap rising demand and invest in the world’s third-biggest consumer.

India’s Oil Minister Dharmendra Pradhan, who jointly inaugurated the local unit with Aramco Chief Executive Amin Nasser, said the move would help pave the way for “a strategic partnership in the hydrocarbon sector” between the two nations.

Saudi Aramco through its subsidiary ARAMCO Asia India (AAI) established its formal business presence in India last year, the statement said.

Aramco is investing in refineries in major markets to lock in customers ahead of its initial public offering next year, and the India business, on top of sales, will look for opportunities to take stakes in refining and petrochemical projects in the country.

Saudi Arabia is competing with Iraq to be India’s top oil supplier, with Iraq displacing it for a fifth month in a row in August, data compiled by Reuters showed.

Nasser is in New Delhi to attend the IHS-CERA conference, which starts on Sunday, which will also be attended by OPEC Secretary General Mohammed Barkindo.

 

Join us on Telegram Channel."Energy Today"

Add new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Fill in the blank.
Parvin Faghfouri Azar
Energy Today
w
+98.21.26413997
Unit 32, No. 26, North Naft Street
Tehran,TH,1918793572
Iran

Saudi Aramco Expands in India

Saudi Arabia is competing with Iraq to be India’s top oil supplier, with Iraq displacing it for a fifth month in a row in August.
Parvin Faghfouri Azar
Saudi Aramco launched a new Indian venture near New Delhi, a government statement said on Sunday, as the global oil exporter looks to tap rising demand and invest in the world’s third-biggest consumer.India’s Oil Minister Dharmendra Pradhan, who jointly inaugurated the local unit with Aramco Chief Executive Amin Nasser, said the move would help pave the way for “a strategic partnership in the hydrocarbon sector” between the two nations.Saudi Aramco through its subsidiary ARAMCO Asia India (AAI) established its formal business presence in India last year, the statement said.Aramco is investing in refineries in major markets to lock in customers ahead of its initial public offering next year, and the India business, on top of sales, will look for opportunities to take stakes in refining and petrochemical projects in the country.Saudi Arabia is competing with Iraq to be India’s top oil supplier, with Iraq displacing it for a fifth month in a row in August, data compiled by Reuters showed.Nasser is in New Delhi to attend the IHS-CERA conference, which starts on Sunday, which will also be attended by OPEC Secretary General Mohammed Barkindo. 
49