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Kuwait, the world's third largest oil producer, on Wednesday, said it was keen on investing in Indian refineries even as it plans to sell more crude to India.
"Kuwait is keen on investing in Indian refineries," country's Foreign Minister Mohammed Al-Salem Al-Sabah told reports on the sidelines of signing of India-Gulf Cooperation Council Framework Agreement on Economic Cooperation in New Delhi.
Attributing the spike in international oil prices to speculation, he said Kuwait wanted to sell more of its crude oil to India.
Currently, India buys some 12 million tonnes of crude oil from Kuwait annually.