Kuwait Minister meets Manmohan SinghBy ANI
Tuesday, September 28, 2010
NEW DELHI - Kuwaiti Oil and Information Minister Shaikh Ahmad Abdullah Al-Ahmad Al-Sabah met Prime Minister Manmohan Singh here today.
He is also expected to meet his Indian counterpart, Murli Deora.
Al Sabah, who is on a state visit to India, said on Monday that Kuwait was interested in acquiring a strategic stake in state-run Indian Oil Corporation (IOC), subject to economic feasibility.
On September 6, India’s Oil Secretary S. Sundareshan had said that the Indian government planned to sell a 10 percent stake in the IOC, the country’s biggest state-run refiner.
The Minister also said that crude oil prices were likely to be between 75 dollars and 80 dollars per barrel in the first quarter of 2011.
The Gulf country is third-largest crude supplier, selling about nine million tonnes of oil a year to India. (ANI)