OPEC ministers to attend oil conference in India
Key oil ministers from Saudi Arabia, Iran, Venezuela and Qatar are expected to attend a conference in the Indian capital at which India will present itself as a destination for investment in oil and gas exploration.
By Agencies |
NEW DELHI: Key oil ministers from Saudi Arabia, Iran, Venezuela and Qatar are expected to attend a conference in the Indian capital at which India will present itself as a destination for investment in oil and gas exploration.
The key ministers, representing the Organization of Petroleum Exporting Countries, have confirmed their participation in the Petrotech-2007 conference, top officials of state-run Oil & Natural Gas Corp said Wednesday.
The conference, to be held in New Delhi Jan 15-19, will also be attended by representatives of global energy companies.
"We want to underline the fact that as far as oil and gas is concerned, India is an under-explored nation, not an under-endowed nation," Indian Petroleum Secretary M S Srinivasan was quoted as saying by Dow Jones Newswires.
India currently imports 76 per cent of the crude oil it processes, with domestic crude production stagnating around 33 million metric tons a year.
Nearly 90 million cubic meters of natural gas is commercially available in the country everyday, sufficient to meet 60 per cent of the domestic demand.
The key ministers, representing the Organization of Petroleum Exporting Countries, have confirmed their participation in the Petrotech-2007 conference, top officials of state-run Oil & Natural Gas Corp said Wednesday.
The conference, to be held in New Delhi Jan 15-19, will also be attended by representatives of global energy companies.
"We want to underline the fact that as far as oil and gas is concerned, India is an under-explored nation, not an under-endowed nation," Indian Petroleum Secretary M S Srinivasan was quoted as saying by Dow Jones Newswires.
India currently imports 76 per cent of the crude oil it processes, with domestic crude production stagnating around 33 million metric tons a year.
Nearly 90 million cubic meters of natural gas is commercially available in the country everyday, sufficient to meet 60 per cent of the domestic demand.
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