India willing to double its energy purchase from US

COMMERCE SECRETARY TO JOIN INDIAN TEAM IN US TODAY

- MUKESH JAGOTA

INDIA HAS THE headroom to purchase additional energy worth § 12-15 billion from the US annually if it is available at the right price and has indicated this to Washington in the ongoing trade talks, a senior official said Wednesday.

In the past 7-8 years, energy purchases from the US — largely crude oil — have come down from § 25 billion to less than $15 billion.

“Right now, we are at around $12-13 billion per annum. There is headroom of anextra $ 12-15 billion which we can purchase (from the US) without worrying about the configuration of refineries,” Commerce Secretary Rajesh Agrawal told reporters.

As varieties of crude vary, refineries are built to process particular grades of crude. Since Indian refineries have, in the past, handled American crude of up to $25 billion, they can do so again.