India, the world’s third-largest oil importer and user, is considering increasing its purchases from Brazil, according to oil minister Hardeep Singh Puri, who met with Brazilian Energy Minister Bento Albuquerque on Thursday. India now imports only a small portion of its oil from Brazil.
“We have expressed to the honourable minister that we are willing to increase our crude from Brazil many times over,” Puri said, adding Indian companies will also be looking at boosting investment in the South American nation. At present, Indian state-run companies Bharat Petroleum Corp and Oil and Natural Gas Corp have made investment in Brazil’s oil and gas exploration sector.
