22 C
Georgetown
Wednesday, July 28, 2021

Oil for oxygen, India welcomes Saudi aid

Must Read

Hess significantly reduces losses in Q2, Guyana activities advancing

Hess Corporation which holds a 30 percent working interest in the Stabroek Block offshore Guyana, disclosed today that it...

Multi-billion-dollar ‘Port of Vreed-en-Hoop’ facility in the works

Guyanese company NRG Holdings Inc. plans to establish a multi-billion-dollar multi-purpose port facility dubbed the ‘Port of Vreed-en-Hoop’ that...

BREAKING: Exxon makes another major oil discovery offshore Guyana

ExxonMobil today said it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

(Reuters) Indian oil minister Dharmendra Pradhan on Friday thanked Saudi Arabia and other Middle Eastern oil producers for supplying liquid medical oxygen (LMO) to help the country in its battle withthe COVID-19 crisis.

In a series of tweets, Pradhan also welcomed offers by Saudi Arabia, UAE and Qatar to supply containers for the next six months and for an assurance of a steady commercial supply of LMO to India.

“Deeply appreciate the initial gesture of goodwill with complimentary LMO supplies particularly from UAE, Kuwait, Bahrain and Saudi Arabia,” Pradhan said.

Pradhan’s tweets came a day after Indian state refiners reversed steep cuts in Saudi oil imports for May at the directions from oil ministry, and placed orders for regular purchases in June.

Indian state refiners buy about 15 million barrels of Saudi oil in a month from Saudi Aramco. India, the world’s third-biggest oil importer and consumer, imports more than 80% of its oil needs and relies heavily on the Middle East.

Relations between Riyadh and New Delhi were under strain earlier this year after Pradhan blamed cuts by Saudi Arabia and other oil producers for driving up crude prices.

India urged refiners to diversify crude sources to cut reliance on the Middle East and directed them to reduce intake of Saudi oil. The refiners cut purchases by more than a third in May.

An Indian oil industry source said the federal oil ministry has not asked refiners to cut Saudi oil imports after Riyadh supplied liquid medical oxygen and cryogenic tanks as India’s healthcare system struggles to cope with a huge surge in cases of COVID-19.

India’s pandemic crisis won’t kill long-term oil demand, Liza Crude still on country’s radar

“Saudi extended the help immediately to make amends … so they tried for rapprochement,” this source added.

India’s oil minister Friday also said he held talks with Saudi Arabia and other Gulf counties about supplies of liquid medical oxygen and thanked them for receiving emergency supplies.

“Had close consultations during the last week with my counterparts from Saudi Arabia, UAE and Qatar on ways to increase import of LMO into India,” Pradhan tweeted on Friday.

OilNOW TV

Latest News

Hess significantly reduces losses in Q2, Guyana activities advancing

Hess Corporation which holds a 30 percent working interest in the Stabroek Block offshore Guyana, disclosed today that it...

BREAKING: Exxon makes another major oil discovery offshore Guyana

ExxonMobil today said it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of...

Exxon seeking support vessels for Guyana operations

ExxonMobil Guyana plans to put in place an enabling agreement for the provision and operation of Multi-Purpose Support Vessels (MPSVs), Platform Support Vessels (PSVs),...

Multi-billion-dollar ‘Port of Vreed-en-Hoop’ facility in the works

Guyanese company NRG Holdings Inc. plans to establish a multi-billion-dollar multi-purpose port facility dubbed the ‘Port of Vreed-en-Hoop’ that will feature a major shore...

Company building Guyana FPSOs moving forward with floating wind project offshore UK

SBM Offshore announced on Tuesday that The Crown Estate has confirmed an intention to move forward with the lease process for two 100MW floating...

More Articles Like This