India, Russia to discuss oil cooperation
New Delhi and Moscow will discuss cooperation in the oil & gas sector at the second Indo-Russian forum on trade and investment scheduled for February 2008.
By TNN |
NEW DELHI: New Delhi and Moscow will discuss cooperation in the oil & gas sector at the second Indo-Russian forum on trade and investment scheduled for February 2008. This was disclosed by Russian Prime Minister Victor A Zubkov during a meeting with petroleum minister Murli Deora in Moscow. Mr Zubkov is expected to lead a business delegation to New Delhi in February 2008.
It was agreed that the national oil companies of the two countries would join hands for projects in exploration & production, grassroots refineries, modernisation of refineries, gas-based petrochemical plants, gas processing plants and participation in liquefied natural gas (LNG), an official said.
In the meeting, both sides noted that India has emerged as a hub for refining in Asia. Mr Deora underlined that Indian exports of refined petroleum products to some of the world’s most sophisticated markets have reached $40 billion. The growing refining sector in India also offers immense opportunities for Russian companies.
Mr Deora is accompanied by a high-level delegation to Moscow. This meeting is a follow-up of the summit between Prime Minister Manmohan Singh and Russian President Vladimir Putin earlier this month in Moscow.
“Both sides discussed various avenues of co-operation between the two countries. The emphasis was on mutually-beneficial projects in upstream, mid-stream and downstream sectors in India, Russia and third countries between the companies of the two countries in hydrocarbon sector,” the official said.
It was agreed that the national oil companies of the two countries would join hands for projects in exploration & production, grassroots refineries, modernisation of refineries, gas-based petrochemical plants, gas processing plants and participation in liquefied natural gas (LNG), an official said.
In the meeting, both sides noted that India has emerged as a hub for refining in Asia. Mr Deora underlined that Indian exports of refined petroleum products to some of the world’s most sophisticated markets have reached $40 billion. The growing refining sector in India also offers immense opportunities for Russian companies.
Mr Deora is accompanied by a high-level delegation to Moscow. This meeting is a follow-up of the summit between Prime Minister Manmohan Singh and Russian President Vladimir Putin earlier this month in Moscow.
“Both sides discussed various avenues of co-operation between the two countries. The emphasis was on mutually-beneficial projects in upstream, mid-stream and downstream sectors in India, Russia and third countries between the companies of the two countries in hydrocarbon sector,” the official said.
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