Minister of Petroleum and Mineral Resources Eng. Ali Al-Naimi met here today his Indian Counterpart Mani Ayar. They reviewed aspects of cooperation between the Kingdom and India in the field of oil, gas and minerals. Following the meeting, Al-Naimi highlighted the existing Saudi-Indian relations, and hoped that they would further be enhanced in the next few years. He noted that India is the fourth biggest petroleum consuming country in Asia, and expected that India's demand for oil would increase in the next years. Al-Naimi said India imports 60 percent of its petroleum requirements, which is equivalent to about 430,000 barrels per day, from the Kingdom. 'The Kingdom is ready to increase its oil exports to India', said Al-Naimi. He pointed out that he had reviewed with his Indian Counterpart issues pertaining to joint investments in the fields of petroleum and mining, and added 'the Kingdom is keen on investing in India through implementing joint projects of petroleum refineries and distribution of petroleum products'. The meeting was attended by a number of senior Saudi and Indian officials as well as Indian ambassador to the Kingdom Kamaluddin Ahmad.
