M a r k e t N e w s

Africa May Play a Central Role in India's Oil Diversification - Dharmendra Pradhan

Posted on : Tuesday , 30th March 2021

African countries could play a key role in India's efforts to diversify its oil and gas sources, according to the country's oil minister on Wednesday, as the country seeks to reduce its dependence on the Middle East.

After OPEC+ agreed earlier this month to largely maintain production cuts in April, India, the world's third largest oil importer, has asked state refiners to accelerate the diversification of oil imports in order to progressively reduce its reliance on the Middle East.

"As India tries to diversify its crude oil and LNG procurement, Africa plays a critical role, owing to its proximity and lack of any choke points in trans-shipments," Dharmendra Pradhan said at an industry summit.

India imports more than 80% of its oil and has a massive oil import bill.

According to Pradhan, Africa accounts for approximately 15% of India's oil imports, or approximately 34 million tonnes of oil last year. India's imports of African gas are steadily growing as well.

Traditionally, India purchases oil from Nigeria, Angola, Algeria, Egypt, and Equatorial Guinea. It has also purchased oil from Cameroon, Chad, Ghana, and Côte d'Ivoire in recent years, according to Pradhan.

"As a result, we will naturally pursue commercial partners in Africa to meet India's increasing energy needs through crude oil, LNG, and other petroleum and energy products imports."

Indian state-owned enterprises have invested $8 billion in oil and gas reserves in various African countries.

India, the world's third largest refiner, is a major exporter of refined fuels.

According to Pradhan, Africa is the second-largest destination for Indian refined fuels, with growing demand for technology, fuels, expertise, and investment in some African nations providing India with opportunities for equity investment and two-way tie-ups.

Source : www.innzaf.com
Featured Companies
  • Bajaj Auto
  • Tire Group International, LLC.
  • /
  • TITAN Containers A/S
  • Your Banner HERE!

Complete List  

Advertisers in previous issue:

  • The trusted source for all your heavy  equipment needs!
  • Shenzhen City, Riland Industrial Co., Ltd. is China
  • Automatic brick manufacturing machines
  • VEGA Grieshaber KG is a world-leading supplier of level, switching and pressure instrumentation.
  • Manufacturer of auxiliary equipments
  • Al Hosni Group International, has the experience and expertise in Construction, Manufacturing, Marketing, Hospitality, Chemicals, Gas services and environmental projects.
  • FAS Flüssiggas-Anlagen GmbH, Salzgitter, is one of the leading manufacturers and suppliers of LPG fittings and components for complete stations for the storage
  • Manufacturer of extrusion lines,extruders and down stream equipment.
  • Ravi Enterprise is a professionally managed organization, established as a reliable source of industrial heaters.
  • We offers high quality, Competitive price and satisfied service always
  • LINTEC doub- le screen technology and the worlds first asphalt mixing plant in 100% ISO sea containers.
  •  The Western Group has been in business for over two decades and was set up primarily to service the Oil & Gas Industry Sectors.
  • Manufacturers & Exporters of hand tools, garden tools & leatheer tool pouches.
  • Catering for the most varied industrial storage requirements.
  • BITZER ranks among the leading manufacturers of refrigerant compressors.
  • Sonmez Makina Ltd. is a manufacturer and exporter company for filling systems of domestic use LPG cylinders.
  •  TITAN Containers is one of the largest privately owned companies supplying containers for a multitude of applications.
  • Specialty and Custom Chemicals Exhibition
  • Used Machinery
  •  Portwest is a global vertical company with over 100 years of experience in the design, manufacture and supply of protective clothing, safety footwear, specialist gloves and PPE to resellers and distributors at the most competitive prices.
  • Vrushabh is one of the leading manufacturer and distributor of Conveyor Belts, Transmission Belts, Elevator Belts, PVC Belts.
  •  Magazine for Africa
  • Suppliers of generators for every application
  • Speco Ltd. is the leading manufacturer & supplier of Asphalt Mixing Plant, Concrete Batching Plant, Crushing Plant & Optimized Integrated Flue Gas Treatment System.
  • REGO GmbH is the Rego Distribution Center located in Central Germany.
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2022 Afrotrade