Saudi, India to enhance oil ties
Posted: 28 March 2005
Saudi Arabia and India are hoping to take their relations to a higher level during India 's Petroleum Minister Mani Shankar Aiyar's three-day visit to the Kingdom starting tomorrow.
Crediting Saudi Arabia with taking the initiative to put Indo-Saudi relations on firmer ground, Aiyar said in a report published by Arab News that he had received signals from the Kingdom that " they regard us as a significant power. I have been happy to reciprocate."
Aiyar highlighted the increasing importance of India 's requirements for oil. He said: " India is a significant importer of petroleum. We are going to become more so. Saudi Arabia recognizes this fact."
Aiyar hoped that Indo-Saudi ties would touch a new high in the coming days when Crown Prince Abdullah visits India . "He has accepted the invitation to visit India ," Aiyar said. The dates need to be finalised.
Saudi Arabia exports 25 per cent of India 's crude petroleum requirements and the bulk of its petroleum products. While Aiyar does not expect any change in Saudi Arabia 's oil policy, he is optimistic about fruitful dialogue in the area of hydrocarbons.
Aiyar is the first Indian petroleum minister visiting Saudi Arabia to promote Indo-Saudi bilateral ties.
Posted by Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
