Iraqs deputy prime minister for energy Hussain Ibrahim Saleh Al-Shahristani on Thursday said that his country was ready to supply oil to India,requirement of which is expected to rise by 4-5 per cent every year.
India can count upon Iraq as a dependable long-term supplier of its crude oil needs, he said. Indias oil imports are expected to reach 6.8 mbpd by 2035 from around 2.5 mpbd today. Where should India look for its oil needs? Iraq will be the main source of growth for the global oil supply over the next decade or two, he said while addressing the IISS-Oberoi Lecture Series here.
Al-Shahristani said Iraq is keen on joint investments in the oil sector in India.