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India seeks extra oil from Saudi Arabia

Published June 14, 2012 Updated June 14, 2012 12:10pm

New Delhi plans to lock in additional barrels as the south Asian nation is expanding its refining capacity and reducing dependence on OPEC member Iran.

India, exempted on Monday from the latest US sanctions against Iran's disputed nuclear programme after cutting crude purchases from Tehran, is the world's fourth-largest oil importer and the second-biggest customer of the Islamic republic.

India's oil minister, S. Jaipal Reddy, requested the additional supplies at a meeting with Saudi oil minister, Ali al-Naimi, at Vienna, where crude producers of OPEC are meeting.

Reddy also met with his counterparts from Iran, Algeria and Qatar, the statement said.

Copyright Reuters, 2012