BHARAT PETROLEUM CORP EAGER TO START NEGOTIATIONS ON PURCHASE OF AZERI OIL
An Indian Bharat Petroleum Corporation Company is eager to start negotiations with the State Oil Company of Azerbaijan (SOCAR) and foreign companies, producing hydrocarbons in the country, on purchase of the crude oil, Trend reports.
вЂњIndia imports over 65% of used oil and looks for alternative sources of the oil delivery to the country. All Indian companies such as Hindustan Petroleum, Indian Oil Corporation, Bharat Petroleum are currently conducting marketing research on oil purchase,вЂќ the company involved in oil supply on the Caspian Sea told Trend.
India is eager to purchase oil not only from Azerbaijan, but also Libya, Nigeria, Algeria and Yemen.
вЂњThe SOCAR and other participants of the BTC CO are aimed at urgent start of oil shipment from the Ceyhan port. The interested Indian companies can purchase oil from the Turkish portВ", the source said.
According to the BP, the estimated oil reserves in Azerbaijan comprised 7bn barrel, Libya вЂ" 39.1bn barrel, Nigeria вЂ" 35.3bn barrel, Algeria вЂ" 11.8bn barrel, Yemen вЂ" 2.9bn barrel.