India to seek reasonable price for crude oil from Saudi Arabia: Pradhan

ANI | Updated: Feb 23, 2018 23:33 IST

New Delhi [India], Feb. 23 (ANI): Union Minister Dharmendra Pradhan on Friday said that India is seeking a reasonable price for crude oil from Saudi Arabia.

Saudi Arabia is India's second biggest source of crude oil after Iraq.

This fiscal, it will import 36.5 million tonnes of crude oil from Saudi Arabia also 25 percent of LPG also comes from the Gulf nation.

"Saudi Arabia is No. 1 crude oil supplier to our market. We import 25 percent of LPG from Saudi Arabia from Aramco. They're the most reliable partner for our energy needs," Pradhan told ANI.

"India is a consumer-centric market. We must get reasonable price of crude oil and LPG," he added.

Further pointing over the mega projects, Pradhan noted that two projects were discussed for better growth and development.

"We also discussed about the two mega projects- Ratnagiri Refinery and Kakinada Petrochemical Project. We also discussed storage facility," Pradhan stated.

"Recently in the presence of Prime Minister Narendra Modi, an MoU was signed as per which UAE's oil will be stored in Karnataka," he asserted.

In the event, Pradhan met Saudi Oil Minister Khalid A Al-Falih in the national capital. (ANI)