16:37 GMT +317 October 2019
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    No Supply Disruption for India, Despite Saudi Aramco Production Problems - Oil Minister

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    New Delhi (Sputnik): India’s Oil Minister Dharmendra Pradhan announced that the drone attack on Saudi Aramco facilities had impacted its crude production by more than five million barrels a day. Pradhan, however, said India has already completed its offtake for September, and there would not be any supply disruption.

    The Indian minister said, there would be no immediate impact on oil supplies, as Aramco has promised to deliver crude from other sources. Aramco, one of the largest oil producers in the world, was attacked over the weekend.

    "We have reviewed our overall crude oil supplies for September with our OMCs. We are confident there will be no supply disruption to India. We are closely monitoring the evolving situation, said Pradhan in New Delhi on Tuesday.

    Saudi Arabia is India's second-largest oil supplier after Iraq. During Pradhan's visit to Jeddah last week, Saudi Arabia assured India that it would remain a reliable oil supplier and even promised to invest more than $50 billion in India's oil sector.

    India's crude oil imports were pegged at 4,543.645 barrel per day as of December 2018, an all-time high so far. Iraq is the country's largest oil supplier, meeting more than one-fifth of India's demand for the 2018-19 fiscal year.

     

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    oil supplies, crude oil, Saudi Aramco, Saudi Arabia, New Delhi, India
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