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BW Businessworld

Iraq Offers Three Oil Blocks To India; May Invest in IOC Refinery

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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 11 July' 2013.
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.