Iraq offers 3 discovered oil blocks to India
New Delhi, July 11, 2013
Iraq has offered three discovered oil blocks to India and has agreed to consider investing in the 300,000 barrels per day of Paradip refinery, a unit of Indian Oil Corp, an Indian oil ministry statement said on Thursday.
Baghdad has also offered to consider extending 60 days credit for crude sales to India, the statement said.
Iraq has emerged as the second-biggest crude oil supplier to India after supplies from Iran were hit due to pressure from western sanctions.
Iraq has offered three discovered oil blocks in the Middle Furat oilfields on a nomination basis, the statement said. – Reuters