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Oman's oil exports to India drop 88% in Q1

May 29, 2012 16:09 IST

Indian imports of Oman's crude oil in the first quarter of 2012 dropped 88.1 per cent compared to the same period last year, as India increased imports from Iran, a news report has said.

First-quarter oil exports to India, which was not a traditional buyer of Omani oil until last year, fell from 15.1 million barrels in 2011 to 1.8 million barrels in 2012, 'Muscat Daily' reported.

Data showed that while a little over 1 million barrels were exported to India in February, 794,200 barrels were exported in March and none at all in January, it said.

Talal Al-Aufi, CEO of Oman Trading International, told the newspaper that although Indian imports have decreased, demand patterns change frequently and hinge on refining capabilities, and the correct feedstock as a result.

The drop in imports from Oman comes as India became a leading importer of Iranian oil in the first quarter of 2012, according to news reports.

Bahrain business delegation to boost trade with India A high-level Bahraini delegation will visit India this week with an aim to boost bilateral political and trade relations between the two countries.

The delegation, led by Bahrain's Crown Prince Salman bin Hamad Al Khalifa, is expected to visit Mumbai and New Delhi and conduct high-level talks with Indian officials and leaders of the private sector, a statement from Bahrain's Economic Development (EDB) said on Monday.

EDB said it has organised a series of meetings with Indian business leaders and high-level talks will focus on a proposed Free Trade Agreement between the GCC (Gulf Cooperation Council) countries and India.

Acting CEO of EDB and Minister of Transport, Kamal bin Ahmed, said: "Bahrain and India are linked by solid bilateral business cooperation relations as we here in Bahrain are now host to more than 120 Indian firms... Bahrain provides an excellent setting for Indian companies seeking to expand operations worldwide or to access the GCC markets which experience fast growth of up to $1 trillion..."

India is Abu Dhabi 2nd largest source market for hotel guests The UK remains Abu Dhabi's leading overseas source market, though the arrivals coming out of the UK are down slightly, while India is now the destination's second-largest source market with hotel guest arrival out of the republic up 28 per cent year-on-year.

Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) said yesterday that significant gains have also been achieved from Saudi Arabia, German, China, Italy, the Netherlands, Belgium and Ireland.

According to official data, last month some 196,753 guests checked into the emirate's hotels and hotel apartments, a 7 per cent increase on April 2011.

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