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India wants to buy Azerbaijani oil long term

Oil&Gas Materials 27 July 2011 15:11
India is interested in signing long-term contracts to supply Azerbaijani oil to the country, Indian Ambassador to Azerbaijan Debnath Show told journalists today.
India wants to buy Azerbaijani oil long term

Azerbaijan, Baku, July 27 / Trend, A. Akhundov /

India is interested in signing long-term contracts to supply Azerbaijani oil to the country, Indian Ambassador to Azerbaijan Debnath Show told journalists today.

He said India's National Oil and Gas Corporation - NOGC already appealed to the State Oil Company of Azerbaijan (SOCAR) with a proposal to supply oil directly to India, or oil of third countries on long-term contracts, but negotiations on this process have not been
held yet.

As Show said, the trade turnover between Azerbaijan and India amounted to $330 million last year, but this level was exceeded in the first five months of 2011. Most of the trade turnover accounted for oil product exports from Azerbaijan to India. About $50 million accounted for share of production of the non-oil sector.

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