Disir
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In what is being looked at as the result of the burgeoning relationship between the US and India in the energy sector, the first shipment of US crude oil has reached Indian shores on Monday.
The ship carrying 2 million barrels of crude oil that left the US Gulf Coast on August 19 reached the Paradip port in Odisha.
The oil consignment, which will be delivered to Indian Oil Corporation, will be refined in the refineries of the state-owned firm located in Paradip, Haldia, Barauni, and Bongaigaon.
Another order placed by Bharath Petroleum Corp. Ltd. and Hindustan Petroleum Corp. Ltd. For 3.95 million barrels of American crude oil will reach ports in Kochi and Vizag, from there to refineries located in these places later this year.
Indian Oil Ministry’s joint secretary Sunjay Sudhir, the US consul general in Hyderabad Katherine B Hadda, were present during the welcoming ceremony organized to mark the arrival of the first shipment of crude oil from America. Several officials of the foreign ministry and IOC were also present.
According to Sudhir, the US imported crude oil will give India an energy boost as there has been an increasing demand for oil caused by geopolitical issues. He also added that the agreement between the US and India will stabilize the energy needs of the country and give India energy security.
“This is one of the first shipments to India since the US stopped oil exports in 1975, and follows recent commitments to US oil purchases by IOC and BPCL,” a US embassy statement said.
Adding to the benefits gained by India, the crude oil import also has the potential to boost trade relations between the two countries by up to $2 billion.
First-ever shipment of US crude oil arrives in India; LPG and shale gas to follow
So, the odds are that nothing will really, really be done about the H1B visas.
The ship carrying 2 million barrels of crude oil that left the US Gulf Coast on August 19 reached the Paradip port in Odisha.
The oil consignment, which will be delivered to Indian Oil Corporation, will be refined in the refineries of the state-owned firm located in Paradip, Haldia, Barauni, and Bongaigaon.
Another order placed by Bharath Petroleum Corp. Ltd. and Hindustan Petroleum Corp. Ltd. For 3.95 million barrels of American crude oil will reach ports in Kochi and Vizag, from there to refineries located in these places later this year.
Indian Oil Ministry’s joint secretary Sunjay Sudhir, the US consul general in Hyderabad Katherine B Hadda, were present during the welcoming ceremony organized to mark the arrival of the first shipment of crude oil from America. Several officials of the foreign ministry and IOC were also present.
According to Sudhir, the US imported crude oil will give India an energy boost as there has been an increasing demand for oil caused by geopolitical issues. He also added that the agreement between the US and India will stabilize the energy needs of the country and give India energy security.
“This is one of the first shipments to India since the US stopped oil exports in 1975, and follows recent commitments to US oil purchases by IOC and BPCL,” a US embassy statement said.
Adding to the benefits gained by India, the crude oil import also has the potential to boost trade relations between the two countries by up to $2 billion.
First-ever shipment of US crude oil arrives in India; LPG and shale gas to follow
So, the odds are that nothing will really, really be done about the H1B visas.
