Indonesia Eager to Sell Crude Oil to India
Wednesday, September 27 2000 - 02:00 AM WIB
Eager to open crude supply to India, Indonesia will dispatch soon two cargoes of oil for test refining by the oil major Indian Oil Corporation, the country's Petroleum Minister Ram Naik said here.
If Indonesian crude was found suitable for refining by oil companies in the country then India would open a supply line from Jakarta, Naik, who just returned from Indonesia after participating in International Oil Conference, told reporters here.
"So far Indonesia doesn't supply crude to India. They have shown keenness to sell oil to us and we will go ahead if results of refining are suitable for our companies," he said.
Naik, who met the Indonesian President and Petroleum Minister during his stay in Jakarta, said they also invited India to explore oil in that country and a team of engineers from ONGC Videsh Ltd would reach there on September 27.
"We have strong ties with Indonesia. We want to consolidate these further and establish trade relations in the petroleum sector," Naik said adding that Indonesian vice president Megawati was coming to India in November.
Beginning of Indo-Indonesian oil relationship assumes significance in the wake of India's import dependence to the extent of 70 percent of her crude requirement and Indonesia's importance among the OPEC group. (*)