'We began foolishly bragging about Saudi-Emirati investment plans as indicative of the sheikhs 'distancing' from Pakistan, including on Kashmir,' notes Ambassador M K Bhadrakumar.
The centre in Riyadh will be staffed by Saudi females and will start by catering to Saudi Aramco and GE as anchor clients.
Modi made a strong case for a partnership between the producers and consumers in the oil market as it exists in other markets.
Given that India will get a huge part of its oil supplies from Iran through its government-owned oil PSUs, any unwelcome shocks in global crude rates could be absorbed well enough.
Aramco also plans to invest in building India's largest oil refinery on the country's west coast.
Estimated to cost $44 billion, the project was expected to be commissioned by 2025.
Pradhan met Energy Secretary Rick Perry during an unscheduled trip to the US Capitol and discussed energy cooperation between India and the US, Indian investment in Liquefied natural gas and shale sectors, and the possibility of the US exporting LNG to India from early next year.
At least 13 Indians were also among the over 863 people injured in the tragedy.
The United States has offered rewards amounting to USD 20 million (around Rs 127 crore) for tips on whereabouts of four top leaders of the Islamic State, a day after the terror group claimed responsibility for its first attack on American soil.
BPCL's impending privatisation and RIL's stake sale to Saudi Aramco raise questions about the future of the West Coast Refinery, once touted as the world's largest.
Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
The Modi government caved in under American pressure without even token resistance. Two countries similarly placed as India with high dependence on Iranian oil -- China and Turkey -- have shown the grit to stand up to Washington, says Ambassador M K Bhadrakumar.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances