NEW DELHI, Sept 13: India, unhappy over the premium charged by Opec members on crude oil they sell to developing countries, will raise the issue at the oil cartel's ministerial meeting in Vienna this week
, Indian Petroleum Minister Mani Shankar Aiyar said on Monday.
Mr Aiyar said he did not expect a decision on the issue as Opec has stated that importers have to bilaterally negotiate with suppliers on the price. "What I intend to do is flag off the issue and follow it up in a conference of four big importers - India, China, Japan and South Korea, and six West Asian supplier countries - being hosted in New Delhi sometime in December or January," he said.
He is expected to meet his Pakistani counterpart soon to discuss the gas pipeline project from Iran via Pakistan to India. Analysts say he may discuss the Opec issue with him.
"That (the New Delhi meeting) is the forum where we, the biggest importers in Asia, plan to confront the suppliers on the issue," he said. "I will be speaking on 'Petroleum and Sustainable Development' on September 17 and will argue why Asian Premium is not justified for goals of sustainable development," he told a news conference here.
The Organization of Petroleum Exporting Countries (Opec) charges $0.6 to $1.2 a barrel premium on supplies it makes to India when compared to the price at which it sells to US and Europe. India pays the extra money on about 40-45 per cent of its imports. India spent $18.36 billion in 2003-04 on buying 90.83 million tons of crude.
