India seeks an agreement to buy 60,000 barrels of oil every day


Sign up to & # 39; company; Their first annual agreement to buy around 60,000 barrels per day of US oil around $ 1.5 billion a year to March 2020, to diversify different sources of sources, said Changev Singh, the chairman of the Indian Petroleum Corp., India, Monday. South Westerly

Singh said the annual contract would start in April. He refused to show the seller's information or prices to describe confidentiality.
A commercial source, which was not allowed to speak to the media, said the base had signed a contract with the Norwegian oil company, Ekinor, according to Reuters.

An Indian oil company purchases 75 per cent of its oil needs, with long-term contracts, largely with OPEC countries.
The company is a oil company; The first repository company of Indian state acquisition to buy US oil is under an annual contract contract that will put an emphasis on trade between New Delhi and Washington.

The company has already bought US oil from spot markets and introduced a short contract in August to buy six million barrels of US oil between November and January.

India will include 4.93 million pounds of water, according to January's figures, the world's third largest oil recorder.

India, which contains about 80% of its oil needs, emerged as a major global global demand driver, with oil bills entering India in January at around $ 11.66 billion.

It is expected that the country will be over China as its fastest marketplace Growth for oil products in Asia, with the expectation that a fuel supply will increase by 6.1% in 2018, according to a report from the Energy Information Administration of the US.
Despite the rise in India, including oil, month of January, the Iranian oil export was reduced to 270.5 thousand barrels per day, a 45% reduction, with the impact of US sanctions.

On the other hand, US oil vessels came to a high degree, with Europe introduced in January 630 thousand barrels per day of US dollars, which are still lower than the US $ 50,000. Russian and Iraqi buyers, but higher than other agents in the Petroleum Reformation Agency (OPEC), including Nigeria and Libya.

Strengthened US suppliers were strengthened with a lower supply from Iran and Venezuela, which put Washington into control of sanctions, and pushing merchants around the world for the oil.

It is expected that US production will reach 12.06 million pd in 2019, up 1.18 million pd from last year, according to US government data.

(Reuters, Arab Arab)

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