Egypt, India discuss oil cooperation

Egypt's Minister of Petroleum Sameh Fahmy and Indian Minister of Petroleum and Natural Gas Mani Shankar Aiyar discussed in Vienna on Friday means of boosting bilateral cooperation in petrochemical domains, according to a statement that was distributed by the Ministry of Petroleum in Cairo.

The statement said the two ministers meeting followed the two-day meeting of the Organization of Petroleum Exporting Countries (OPEC) which concluded on Wednesday. They discussed means of enhancing cooperation between Egypt and India in oil and gas -industries as well as refinery process technologies.

The meeting also covered oil supply and demand forecasts in light of an OPEC resolution to raise the oil production ceilling to 27 million barrels per day. The Indian official said his country will contribute to oil and gas exploration projects in Egypt.