Kuwait ready to meet India’s crude oil needs

New Delhi: Kuwait is ready to meet India’s crude oil and petroleum products requirements and is keen to enter into long-term contracts with New Delhi in the hydrocarbon sector.

Kuwait Ambassador Khalif Abbas Al Foundari said his country was ready to extend all possible cooperation and support to India to overcome problems caused by the volatile international oil market.

Crude oil prices have touched an all time high of 70 dollars per barrel in the international market and on Tuesday the Indian government was forced to announce a massive hike of around seven per cent in the prices of petrol and diesel, he told newspersons after inaugurating a photo exhibition at Jawaharlal Nehru University.

The ambassador said that Kuwait was keen to discuss the issue of laying a pipeline between Kuwait and India to provide uninterrupted oil supply to New Delhi.

However, these things could be discussed at length during Petroleum Minister Mani Shankar Aiyr’s visit to the Emirates in the near future.

The exhibition at JNU is being organised by the Kuwait Information Centre in collaboration with varsity Centre of Arabic and African Studies. JNU Vice Chancellor Prof B B Bhattacharya presided over the function.

Director of Information Mohammed Al Badah in his speech highlighted stopping cultural and commercial ties between India and Kuwait.

Mr Al Foundari praised India’s role in the reconstruction of Kuwait after its liberation. He said Indians were playing an active and prominent role in the nation building programme of his country.

The Vice Chancellor referred to strong cultural bonds between the two countries.

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