India on Feb 23 sought 5 million tons of more crude oil from Saudi Arabia next fiscal as its refiners look at replacing at least 10 per cent crude oil imported from Iran.
Minister of state for petroleum and Natural Gas R P N Singh said he sought 5 million tons of more crude oil from Saudi Arabia in 2012-13.
India currently buys 27 million tons of crude oil per annum from Saudi Arabia while its annual imports from Iran is about 17 million tons.
The Saudi Minister said his country has a spare production capacity of 2.5 million barrels per day beyond current output of 9.8 million barrels a day.
India also sought more LPG from Saudi Arabia to meet growing energy needs.
