Saudi Arabia and India at Odds Over Crude Supply to Possible Joint Refineries

Saudi Arabia and India at Odds Over Crude Supply to Possible Joint Refineries

Last month, Saudi Arabia and India agreed to boost energy cooperation, including by potential Saudi investment in two refineries in the world’s third-largest crude oil importer. However, initial talks have already hit a snag as the world’s top crude exporter, Saudi Arabia, is at odds with India over the pricing and volumes of crude it will supply for the refineries, sources with knowledge of the matter told Bloomberg on Monday. At the end of Apr…

Saudi Push Into Indian Refining Is Stalling Over Crude Supply

Bloomberg Wire | Gulf News | Saudi Arabia’s progress in securing investment in two oil refineries in India is being held back by a lack of consensus around crude supply, according to people familiar with the matter. The nations agreed last month to collaborate on the two plants, as the largest oil exporter seeks to tap a massive market that will help drive global demand growth. But the early-stage discussions have stalled as Saudi negotiators …