India would invest in Africa’s oil fields and increase purchase of crude oil and liquefied natural gas (LNG) from the continent, minister of state for petroleum and natural gas Jitin Prasada said here on Tuesday. “Our objective with Africa has been to build up a strategic partnership of enduring dimension in the oil and gas sector,” the minister said at a conference. As India is hugely dependent on oil and natural gas imports, there is a huge potential of Africa and India coming closer, he said addressing representatives from 15 countries. ONGC Videsh, the international exploration arm of public sector energy giant ONGC has already invested $ 2.5 billion in the Sudanese oilfields, he added.
Govt to ramp up hydrocarbon activities The government said it is taking various steps to ramp up hydrocarbon exploration and production activities in the country. “Carving out more and more areas for exploration for offer under various rounds of New Exploration Licensing Policy (Nelp) and Coal Bed Methane (CBM) policy,” petroleum minister Murli Deora said in a written reply in Rajya Sabha. Coal Bed Methane (CBM) or coal bed gas is a form of natural gas extracted from coal beds. Vietnam for Indo-Asean pact Vietnam is expected to implement the Indo-Asean free trade agreement in the first quarter of 2010, liberalising the $2.13-billion trade with India, a commerce ministry official said. Vietnamese trade and industry minister Vu Huy Hoang during a meeting with his Indian counterpart Anand Sharma indicated that his country would implement the Indo-Asean free trade agreement in the first quarter of 2010, the official said.
Full Story: : African oil fields on India radar - Financial Express
Govt to ramp up hydrocarbon activities The government said it is taking various steps to ramp up hydrocarbon exploration and production activities in the country. “Carving out more and more areas for exploration for offer under various rounds of New Exploration Licensing Policy (Nelp) and Coal Bed Methane (CBM) policy,” petroleum minister Murli Deora said in a written reply in Rajya Sabha. Coal Bed Methane (CBM) or coal bed gas is a form of natural gas extracted from coal beds. Vietnam for Indo-Asean pact Vietnam is expected to implement the Indo-Asean free trade agreement in the first quarter of 2010, liberalising the $2.13-billion trade with India, a commerce ministry official said. Vietnamese trade and industry minister Vu Huy Hoang during a meeting with his Indian counterpart Anand Sharma indicated that his country would implement the Indo-Asean free trade agreement in the first quarter of 2010, the official said.
Full Story: : African oil fields on India radar - Financial Express
