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India to export petroleum products to Pakistan

India has agreed to export fuels to Pakistan to help the neighbouring country meet its shortfall and provide a new market for large refineries of Reliance Industries and Essar Oil, the Economic Times reported on Monday.

April 25, 2011 / 12:10 PM IST
 
 
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India has agreed to export fuels to Pakistan to help the neighbouring country meet its shortfall and provide a new market for large refineries of Reliance Industries and Essar Oil, the Economic Times reported on Monday.


"Pakistan is too keen to import refined petroleum products from across the border to save cost," the newspaper quoted an Indian government official with direct knowledge of the matter as saying.


"The Indian side will firm up the proposal in an internal meeting on Monday before the bilateral meeting," the unnamed source told the paper.


Pakistan has about 12-million-tonnes refining capacity, which meets only half of its annual requirements. India exports about 25% of its 185-million-tonne refining capacity, the Economic Times said.

Officials at Reliance Industries and Essar Oil could not immediately be reached by Reuters for a comment.

first published: Apr 25, 2011 10:46 am

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