New Delhi, Oct. 15 -- India would be willing to step up its purchases of American oil and gas if prices are competitive, a senior government official said, at a time when New Delhi has come under intense US pressure for buying discounted Russian crude.
Union commerce secretary Rajesh Agarwal, who left for Washington on Wednesday to join the negotiations for the bilateral trade agreement (BTA) with the US, said that India is open to increasing its crude and gas imports from the US if prices remain viable for domestic refiners.
India, on average, imports $12-13 billion worth of crude oil and gas from the US every year. There is headroom for an additional $12-13 billion in purchases without requiring any changes to refinery configurations,...
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