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India, Saudi Arabia, to Create Energy Partnership


India and Saudi Arabia have said they intend to form an energy partnership to increase the amount of crude oil supplied to India.

The joint declaration was announced Friday in New Delhi at the end of Saudi King Abdullah's four-day visit to India.

The agreement, signed by the king and India's Prime Minister Manmohan Singh, endorses greater exports of Saudi crude oil to India along with Saudi investments in refining and distribution in India.

The two countries said they would establish a joint venture to produce fertilizer at plants in Saudi Arabia.

India imports 70 percent of the oil it consumes.

In the agreement, India and Saudi Arabia also pledged to cooperate in the fight against terrorism.

Some information for this report was provided by AFP, AP and Reuters.

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