NEW DELHI: India is in talks with some UAE-based corporations to jointly bid for oil blocks in UAE, India's oil minister said on Monday.
"We are in talks that India could bid in the next licensing round of UAE with some Middle Eastern nation companies like Mubadala," Dharmendra Pradhan, India's oil minister said.
"Oil producers don't want to miss India's bus," Pradhan said referring to India's enhanced role in global markets.
India, the sector's 3rd greatest oil importer and shopper, imports about 80 in line with cent of its oil needs, most commonly from the Middle East.
Pradhan said India would believe leasing part of its 3rd strategic reserve in South Indian city Padur if Abu Dhabi National Oil Company is .
ADNOC has leased part of India's strategic reserve at Mangalore.
"We are in talks that India could bid in the next licensing round of UAE with some Middle Eastern nation companies like Mubadala," Dharmendra Pradhan, India's oil minister said.
"Oil producers don't want to miss India's bus," Pradhan said referring to India's enhanced role in global markets.
India, the sector's 3rd greatest oil importer and shopper, imports about 80 in line with cent of its oil needs, most commonly from the Middle East.
Pradhan said India would believe leasing part of its 3rd strategic reserve in South Indian city Padur if Abu Dhabi National Oil Company is .
ADNOC has leased part of India's strategic reserve at Mangalore.
India plans to participate in oil block auctions in UAE: Oil minister
![India plans to participate in oil block auctions in UAE: Oil minister]()
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June 25, 2018
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