India seeks more oil, gas from Nigeria

August 15th, 2011 - 11:49 am ICT by IANS  

New Delhi, Aug 15 (IANS) India has asked hydrocarbon-rich Nigeria to allocate more oil and gas to India and help it in its energy security efforts.

“India has expressed its interest to procure a portion of the additional requirement of crude oil and liquefied natural gas from Nigeria,” Minister of State for Petroleum and Natural Gas R.P.N. Singh told parliament last week.

As India’s refining capacities increase, it will require more crude and gas, which Nigeria has the ability to sell, he said. “India’s refining capacity is projected to increase from 185 million metric tonnes per annum to about 240 million by 2012-13.”

As per estimates available with the ministry, the annual requirement of Nigerian crude would be around 18 million tonnes per annum from 2012-13 onwards. In the case of gas, too, India is tapping Nigeria, since it requires 12-15 million tonnes immediately.

India had imported 13.2 million tonnes of crude from Nigeria in 2009-10.

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