India, the world’s third biggest oil importer and consumer, is looking at boosting oil purchases from Brazil, oil minister Hardeep Singh Puri said on Thursday after a meeting with Brazilian Energy Minister Bento Albuquerque.
Currently India imports only a fraction of its oil imports from Brazil.
“We have expressed to the honourable minister that we are willing to increase our crude from Brazil many times over,” Puri said, adding Indian companies will also be looking at boosting investment in the South American nation.
At present, Indian state-run companies Bharat Petroleum Corp and Oil and Natural Gas Corp have made investment in Brazil’s oil and gas exploration sector.
