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Iraq offers three discovered oil blocks to India

Source : REUTERS
Last Updated: Thu, Jul 11, 2013 12:15 hrs

NEW DELHI (Reuters) - Iraq has offered three discovered oil blocks to India and has agreed to consider investing in Indian Oil Corp's 300,000 barrels per day Paradip refinery, an oil ministry statement said on Thursday.

Baghdad has also offered to consider extending 60 days credit for crude sales to India, the statement said.

Iraq has emerged as the second-biggest crude oil supplier to India after supplies from Iran were hit due to pressure from western sanctions.

Iraq has offered three discovered oil blocks in the Middle Furat oilfields on a nomination basis, the statement said.

(Reporting by Nidhi Verma; Editing by Anand Basu and Anthony Barker)




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