India in Major Saudi Oil Deal

India Importing More Oil from Saudi Arabia

In a deal with Saudi Arabia, India has increased its supply of oil from the Arab nation from 25.5 million tons a year to 40 million tons a year, equal to about 770,000 barrels a day.

India also wants to increase its imports of heavier crude oil a well, from Saudi Arabia.

Plans are for three new refinery plants in India to increase the overall refining capacity in the country to about 178 million tons a year by the end of 2012, which would represent about a 20 percent increase if they succeed.

India Importing More Oil from Saudi Arabia