|
|
Article: India secures asset pact with China.
- Article from:
- Petroleum Intelligence Weekly
- Article date:
- September 15, 2008
CopyrightCOPYRIGHT 2008 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
National oil companies from China and India have been among the most aggressive bidders for international oil and gas assets in recent years, often going head-to-head in pursuit of the same target. But a new era of harmony may be about start after Indian Oil Minister Murli Deora secured what appears to be an agreement with Beijing not to drive up asset prices unnecessarily by bidding against each other. The minister was seeking to avoid a bidding war over UK-listed Russian minnow Imperial Energy, which has been the subject of interest from both India's Oil and Natural Gas Corp. (ONGC) and China's Sinopec (PIW Aug.11,p9). Deora told PIW that he had approached Chinese ...