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After Russia, US hints at oil for India on concessional terms
After Russia, US hints at oil for India on concessional terms

New Delhi, Sep 18 (TIWN) The US may offer oil and gas to India on concessional terms from its own reserves to help the latter tide over any shortages arising from the drone attacks on Saudi Arabian Oil Company, or Aramco, that have caused the biggest-ever disruption in global crude oil supplies.

Diplomatic sources here said that supply details would be discussed in detail during the visit of the official Indian delegation to the US stating September 21, where Prime Minister Narendra Modi is also scheduled to meet US President Donald Trump. The delegation also includes a large number of Indian business honchos, including chiefs of public and private sector oil companies.  "We can expect Indian oil companies to sign memoranda of understanding with their US counterparts for increasing oil imports to meet the country's domestic demand. Saudi Arabia meets close to 20 per cent of oil needs of the country and if there is a supply disruption, the US can become a dependable ally if terms of such supplies are favourable," one source said.

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