India keen to raise oil imports from Brazil with aim of diversification
NEW DELHI: India, the world’s third biggest oil importer and consumer, is keen on raising oil imports from Brazil as it looks to diversify its purchases. “The Indian side expressed interest for sourcing crude oil under long-term special contracts,” an official statement said after Oil Minister Hardeep Singh Puri met visiting Brazilian Energy Minister Bento Albuquerque here.
India currently imports only a small fraction of oil from Brazil and its main sources are in the Middle East and the US. Also, Indian firms are looking at boosting investment in the South American nation.
