Saudi Oil Min assures Pradhan of meeting all supply commitments

India buys some 200,000 tonnes of LPG every month from Saudi Arabia. 

New Delhi, Sep 19: Saudi Oil Minister Prince Abdulaziz bin Salman on Thursday assured his Indian counterpart Dharmendra Pradhan of meeting all oil supply commitments to India as the Kingdom looks to restore production from its facilities to pre-strike levels very soon. Pradhan spoke to his Saudi counterpart on phone and discussed in details supply plan in the aftermath of a massive attack on the Kingdom's crude oil facilities that wiped out as much as 5 million barrels per day of output. 

"They have again assured that all supply commitments to India will be met," said Sanjiv Singh, chairman of Indian Oil CorpNSE -1.89 % (IOC).

Saudi Arabia, which is India's second-largest oil supplier, sells close to 2 million tonnes of crude every month. Of this, 1.2-1.3 million tonnes of supplies for September have already been taken and the rest too has been assured. 

However, Saudi has sought deferment of some LPG supplies but they have assured to make up for all the quantities, he said, adding any shortfall can be bought from Qatar. 

India buys some 200,000 tonnes of LPG every month from Saudi Arabia. 

Industry sources said Saudi Arabia has cut throughput at its refineries to meet its crude oil supply commitments. 

Source:  The Economic Times   www.economictimes.indiatimes.com