India was hoping that by offering Saudi Aramco's Yanbu refineryan opportunity to invest in Visakhapatnam refinery, India would get an opportunity to invest in Yanbu but India has not been shortlisted. "Nonetheless our offer of collaboration in Visakhapatnam is open," the newspaper quoted the minister as saying. Aiyer hoped to discuss certain bilateral issues with his Saudi counterpart, who is part of a high-level delegation that will accompany Saudi Arabian King Abdullah Bin Abdul Aziz Al-Saud on his visit to India from Jan. 24. "The issue of hydrocarbon cooperation is also a component of bilateral talks that are going to be held between Indian Prime Minister Manmohan Singh and the Saudi King," he said. "So far as the oil component of our energy security is concerned, we have a strong assurance from Saudi Arabia that any incremental requirement will be met by them," he said. The minister further added that 26 percent dependence on Saudi Arabia is the optimal level and now there was a need to diversify oil sources. India currently depends on imports for over 76 percent of its 112 million tonne requirement of crude and some petroleum products. PIN/XINHUA