India Saudi Oil, LPG's largest market

Gurugram Union Petroleum and Natural Gas and Skill Development and Entrepreneurship Minister Dharmendra Pradhan inaugurated the Armco Asia India office of Saudi Aramco jointly with Chairman and Chief Executive Amin H.L.-Naseer in Gurgaam. 

 This office is located in the Two Horizon Tower Gurogram. Saudi Armco started its formal business in India in 2016 by its subsidiary Armando Asia India. AAI will now formally associate with crude oil and LPG trade, engineering and technical services and other business development industries. 

     On this occasion Dharmendra Pradhan said that India is the largest market for Saudi oil and LPG. He said that he is feeling very happy while inaugurating the Saudi Armco office in India.  

     This will help strengthen the strategic partnership of bilateral buyer-supplier relations in the hydrocarbon sector. ARMMO India has planned to expand its operations in the near future to start the operations of hydrocarbon sector services including engineering services,

    IT operations and security and R & D center. Saudi Armaco intends to partner with Indian companies. To promote Make in India activities in India, India wants to establish integrated business venture in hydrocarbon value chain. 

  Saudi Arabia is the second largest supplier of crude oil to India after Iraq. 19 percent of crude oil and 29 percent of the country's LPG import comes from Saudi Arabia. During the year 2016-17, India imports 39.5 MMT of crude oil from Saudi Arabia.