(MENAFN - Kuwait News Agency (KUNA)) Kuwait Petroleum Corporation (KPC) hammered out Sunday two contracts with India's Bharat Petroleum Corporation to supply it with 68,000 oil barrels per day.
In statements to KUNA, Managing Director of KPC International Market Sector Nasser Al-Mudhaf said that KPC has succeeded in renewing the contract of supplying Bharat Petroleum with 46,000 barrels of oil per day and signing a new contract to supply Bharat-Oman Refinery with 22,000 bpd.
Mudhaf noted that KPC won the second contract after fierce competition with major international rivals.
He described the deal as a clear indication of the success of KPC to strengthen its presence on the promising markets such as India.
India is one of Kuwait's key markets and KPC strives to increase the volume of Kuwaiti oil exports in line with the strategic plan of International marketing Sector.
Mudhaf underlined that the signing of the two contracts shows the strategic partnership between Kuwait and India, the world's second largest importers of Kuwait oil.
The KPC official disclosed that there are negotiations with India to supply it with Kuwaiti liquefied natural gas, expecting a deal in this regard is expected to be signed in the coming next months.