NEW DELHI, April 25: India plans to export petrol and diesel to Pakistan to help meet its energy needs and to open up a new market for Indian refiners, such as giant Reliance Industries, a report said on Monday. “Pakistan is keen to import refined petroleum products from across the border to save costs,” the Economic Times said, quoting an Indian government official with “direct knowledge” of the plan.

The Indian side was due to put the final touches on the plan before a two-day meeting starting on Wednesday between the commerce secretaries of India and Pakistan in Islamabad, the newspaper said.

The meeting is aimed at renewing trade ties. India imports about three-quarters of the oil it consumes but its refining capacity has expanded rapidly, making it a key player in the international market.

The exports will open up a new market for large refinery players, such as Reliance Industries and Essar Oil, the Economic Times said.

Indian officials believe greater trade would force the nations to maintain friendly ties and that India is in a position to meet Pakistan's fuel demands, according to the newspaper.

Pakistan has a 12-million-tonne refining capacity which satisfies only half of its annual requirements, while India exports about 25 per cent of its 185-million-ton refining capacity, according to official data. —AFP