IOC, Aramco consider JV
Posted: 19 January 2005
Indian Oil Corporation is in talks with Saudi Aramco for a possible joint venture to build a strategic reserve of about 37.5million barrels, according to M S Ram achandran, Chairman of IOC.
India , which imports 70 per cent of its crude, mostly from the Middle East , wants a reserve to meet 15 days of domestic demand.
The Chairman of IOC according to reports has held talks with Saudi Aramco's president and CEO, Abdallah Jumah, who was in New Delhi recently.
Posted by Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
