China's November crude oil imports from the Kingdom of Saudi Arabia (KSA) jumped 29.19% on a year earlier to 1.15mb/d. Saudi Arabia re-emerged as the top oil supplier to India during November with over 873,000b/d,
Indian state-run oil refiners have indicated interest to increase total crude oil consumption volume with additional 2m tons of crude oil import from Nigeria in 2017.
India has nudged Iran to quickly award rights to develop the coveted Farzad-B gas field in the Persian Gulf to ONGC Videsh by wrapping up negotiations that have been dragging on for months.
A consortium headed by ONGC Videsh Ltd (OVL) and Iran aim to strike a deal by March to develop the Iranian Farzad B gas field in the Farsi offshore block.
The Nigerian Minister of State for Petroleum Resources, Ibe Kachikwu, has negotiated a $15b investment with the Indian government for the oil and gas sector.