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India is in talks with Middle-East countries for oil-for-food Scheme

The central government is in the middle of discussion with countries in the Middle East about a scheme under which they can exchange crude oil for food.

  • Oil minister Dharmendra Pradhan today has said that India is in talks with UAE and some countries from Middle East to have a partnership oil-for-food programme.
  • He further revealed that discussion among these countries are already been taking place at the highest level.
  • India stands at third position among the biggest crude oil consumer in the world with a heavy import of around 80% of its crude oil requirement. Majority of these imports take place via the Middle Eastern countries.

(Source: NDTV)

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