India Eyes More Oil Imports From Russia

NEW DELHI – India is looking at raising oil imports from Russia, Oil Minister Dharmendra Pradhan said on Tuesday at a time of surging oil prices after an attack on Saudi Arabian facilities halved the kingdom’s production.

Pradhan said he had met the chief executive of Russian oil major Rosneft, Igor Sechin, and that four Indian companies planned to increase their investment in Russia’s oilfields. The oil minister also attempted to calm nerves on supplies, saying he was confident that India had a diverse crude basket.

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