First-ever shipment of US crude oil arrives near Odisha's Paradip Port

Oct 03, 2017, 09:00 IST | Agencies

India yesterday received the first shipment of crude oil from the US, which will process at a refinery near Odisha's Paradip Port

India yesterday received the first shipment of crude oil from the US, which will process at a refinery near Odisha's Paradip Port. The shipment was met by US Consul General to Hyderabad Katherine Hadda, Joint Secretary for International Cooperation from the Ministry for Petroleum and Natural Gas Sunjay Sudhir and Joint Secretary, Americas Division, from the Ministry of External Affairs Munu Mahawar. This is one of the first shipment to India since the US stopped oil exports in 1975, and follows recent commitments to the US oil purchases by Indian Oil Corporation (IOC) and Bharat Petroleum (BPCL). The IOC and BPCL have placed orders for over 2 million barrels from the US.

The US crude oil shipments to India have the potential to boost bilateral trade by up to $2 billion. Charge d'Affaires at the US Embassy in Delhi Mary Kay Carlson said, "This event marks a significant milestone in the growing partnership between the US and India. The two countries are elevating cooperation in the field of energy, including plans for cleaner fossil fuels, renewables, nuclear, and cutting-edge storage and energy efficiency technologies. We look forward to working together on further sales of US crude and exploring opportunities to expand the role of natural gas in India."

Trending Video

Watch video: Dahisar river touches the danger mark near National Park

 

Download the new mid-day android app to get updates on all the latest and trending stories on the go https://goo.gl/8Xlcvr

Go to top