Oilcos to find buying assets abroad easier, says Deora
The plans of domestic companies to acquire oil fields in Saudi Arabia, Venezuela, Iran and Nigeria and six other countries get a boost.
By ET Bureau |
NEW DELHI: The plans of domestic companies to acquire oil fields in Saudi Arabia, Venezuela, Iran and Nigeria and six other countries could get a boost as oil ministers of these nations have assured India of an enabling environment for more possible acquisitions in future.
Petroleum minister Murli Deora has said he had positive response from these countries during his recent visit to Spain. The other countries in the list include Cuba, Iran, Algeria, Colombia, Angola and Netherlands.
���These diplomatic initiatives have not only led to obtaining participation in producing oil properties abroad but has also helped in creating an enabling environment for more such acquisitions in future,��� Mr Deora said while commenting on the accelerated diplomatic efforts in recent months.
He said platforms such as the World Petroleum Congress (WPC) provide an appropriate opportunity for networking to an import-dependent country like India.
The presence of a large number of ministers on a single platform hastens the process of establishing long-term relationship, which otherwise takes a long time to materialise. Efforts to secure exploration and production assets abroad is part of the strategy India has adopted to enhance its energy security.
This event also made it possible to explore business avenues, consolidate old relations and gains, and position Indian hydrocarbon industry at the global scale, he said.
Opec president and Algerian energy minister Chakib Khalil and Mr Deora also discussed the possibility of joint ventures between the companies of two countries for mutual benefit.
Petroleum minister Murli Deora has said he had positive response from these countries during his recent visit to Spain. The other countries in the list include Cuba, Iran, Algeria, Colombia, Angola and Netherlands.
���These diplomatic initiatives have not only led to obtaining participation in producing oil properties abroad but has also helped in creating an enabling environment for more such acquisitions in future,��� Mr Deora said while commenting on the accelerated diplomatic efforts in recent months.
He said platforms such as the World Petroleum Congress (WPC) provide an appropriate opportunity for networking to an import-dependent country like India.
The presence of a large number of ministers on a single platform hastens the process of establishing long-term relationship, which otherwise takes a long time to materialise. Efforts to secure exploration and production assets abroad is part of the strategy India has adopted to enhance its energy security.
This event also made it possible to explore business avenues, consolidate old relations and gains, and position Indian hydrocarbon industry at the global scale, he said.
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Opec president and Algerian energy minister Chakib Khalil and Mr Deora also discussed the possibility of joint ventures between the companies of two countries for mutual benefit.
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