India seeks more crude oil imports from Nigeria

March 16th, 2011 - 5:04 pm ICT by ANI  

New Delhi, Mar 16 (ANI) Petroleum Minister S Jaipal Reddy today said that India has sought import of higher quantities of crude oil from Nigeria in the coming years.

During the meeting with Henry Odien Ajumogobia, Minister of Foreign Affairs of Federal Republic of Nigeria here, Reddy said: “In view of the significant expansion in India’s refining capacity, the annual requirement of Nigerian crude oil would be around 18 million tonnes per annum from 2012-13 onwards.

He referred to the fact that India imported 13.2 million tonnes of crude oil from Nigeria in 2009-10.

Regarding Liquefied Natural Gas (LNG), Reddy said that India is interested in tying up LNG imports from Nigeria immediately, as the country’s requirement of LNG is projected to go up by 12 to 15 million tonnes per annum in the foreseeable future.

Meanwhile, Ajumogobia indicated that the Nigeria LNG (NLNG) was considering to dilute a part of its stake, and GAIL is being considered as one of the parties.

GAIL (India) Ltd. is pursuing participation in the Nigerian Gas Master Plan Project (NGMP) and has submitted a proposal along with other international consortium members.

GAIL has also expressed interest in participation in petrochemical projects and city gas distribution projects in Nigeria.

Ajumogobia also offered technical assistance from India’s oil PSUs to Nigerian personnel in areas related to refining, pipelines, marketing, research & development.

He also stated that to the steady progress was being made by the OVL Mittal Energy Ltd. (OMEL) consortium in OPL 279 and 285, where OMEL is carrying out the exploratory drilling and carrying out a detailed feasibility study for a downstream refinery.

Referring to India’s investments in blocks OPL 321 and 323 in the upstream sector, he called for an early resolution of the litigation in Nigeria. (ANI)

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