India to double US oil imports
India plans to double crude oil imports from the US as part of its effort to reduce dependence on the volatile West Asia region.
“We can easily double our crude oil imports from the US to 12 million tonnes. We are in talks with the US government and private oil firms as petroleum is an unregulated business in that country. We expect good rates and better terms from American firms that would compensate for our transportation costs. In return, we can offer them an assured market,” an official said.
Oil purchases from the US, which started in 2017-18, have already crossed about 6 million tonnes a year.
(Source: Pragativadinewsservice 12-01-2020)