OPEC member Kuwait produces about 3 million barrels per day of oil, about two thirds of which is exported
Major oil producer Kuwait has renewed crude supply contracts with India's Bharat Petroleum Corporation Ltd (BPCL) worth up to $3.7 billion a year, the Gulf state's official news agency KUNA said on Tuesday.
State-owned Kuwait Petroleum Company (KPC) signed one contract with BPCL and another with its subsidiary Bharat Oman Refineries Ltd (BORL), KUNA said. The report did not specify any volumes.
OPEC member Kuwait produces about 3 million barrels per day (bpd) of oil, about two thirds of which is exported.
BPCL operates a 240,000 bpd Mumbai refinery in western India and a 190,000 bpd Kochi refinery in the south of the country.
It also has majority stakes in the 60,000 bpd Numaligarh refinery in northeast India and the 120,000 bpd Bina refinery in central India. The Bina refinery is operated by Bharat Oman Refineries Ltd, in which state-ownedOman Oil Company has a minority stake.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.