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OPEC to consider concessional pricing request
By siliconindia
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Thursday, 09 January 2003, 20:30 IST
The Organisation of Petroleum Exporting Countries (OPEC) Thursday said it wwould consider India's request for concessional pricing of crude oil for developing countries.
NEW DELHI: OPEC however, did not set any time frame for taking a decision on the matter.
"We are considering India's proposal. We hope to arrive at a decision soon," OPEC president Abdulla Bin Hammed Al Attiyah told reporters in New Delhi. He was in the capital to attend the Petrotech 2003 conference.
It may be recalled that India had earlier requested concessional pricing of crude and the removal of the Asia premium by OPEC. Crude supplied by OPEC member-countries to India carries a premium of $2 per barrel when compared with the price offered to the western countries.