The arrival of first American oil shipment in Odisha this week marks a significant milestone in India-US partnership, the Trump…
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The arrival of first American oil shipment in Odisha this week marks a significant milestone in India-US partnership, the Trump administration said today.
The first of a series of new shipments of crude oil from the United States arrived in Odisha on October 2.
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“We consider the increased Indian purchases of US crude oil to be a direct outcome of the June visit of the Prime Minister (Narendra) Modi to the White House,” State Department spokesperson Heather Nauert told reporters at her daily news conference.
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The leaders at that point talked about expanding and elevating the bilateral energy cooperation through a Strategic Energy Partnership, she noted.
“So, we look at that event as marking a significant milestone in the growing partnership between the United States and India,” Nauert said in response to a question.
In one of the first shipments to India since the United States stopped oil exports in 1975, India received shipment of US crude oil with state-owned Indian Oil Corp (IOC) importing a 1.6 million barrels parcel at Paradip.
State-owned Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) have also placed orders for about 2.95 million barrels and 1 million barrels of US crude respectively for their Kochi and Vizag refineries.
According to a US Embassy statement, the US crude oil shipments to India have the potential to boost bilateral trade by up to USD 2 billion.
Next month, Nauert would join President Donald Trump’s daughter and White House adviser Ivanka Trump on a trip to India.
Ivanka would be leading a high-level US delegation to the Global Entrepreneurship Summit in Hyderabad.
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