First crude oil cargo from the US received at Paradip

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.