The first US crude oil cargo of 1.6 million barrels bought by Indian Oil Corporation from the US was received at Paradip Port today. A sample of the crude was symbolically presented to Shri Sunjay Sudhir, Joint Secretary (International Cooperation) in the Ministry of Petroleum & Natural Gas by Mr. Anish Aggarwal, Director (Pipelines), IndianOil. Ms. Katherine B Hadda, US Consul General in Hyderabad, Senior Officials from Ministry of External Affairs and IndianOil were also present at the ceremony.
Calling it as a new chapter in the history of Indo-US trade, particularly in the oil and gas sector, Shri Sudhir said that the inclusion of the US as a source for crude oil imports by India’s largest refiner will go a long way in mitigating the risks arising out of geo-political disruptions. He hoped that the new arrangement would also usher in price stability and energy security for India, which is witnessing robust growth in demand for petroleum products.