New Delhi: The world’s largest oil company Aramco will provide additional crude oil to domestic oil refiners to meet shortages arising from the US decision to lift Iran sanction waivers from major oil importing countries, including India.
Sources in state-run oil companies said that the Saudi Arabian oil giant has offered to increase crude oil supplies to India by 200,000 barrels a day (bpd) that would meet almost half of the country’s oil imports that was coming from Iran.
On an annual basis, 200,000 bpd of oil equals about 10 million tonne (mt) of oil per year. India imported 23.9 mt of crude oil from Iran in FY19, making the Gulf country the third biggest exporter of oil after Iraq and Saudi Arabia.
