Industry & Economy
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Petroleum
India, China keen to share information on sourcing of crude oil
Our Bureau
New Delhi
,
Jan. 13
THE Petroleum Minister, Mr Mani Shankar Aiyar, on Thursday said both India and China have expressed their intent for exchanging information on sourcing of crude oil. Speaking to newspersons from Beijing, Mr Aiyar said this would be to the advantage of both the countries.Mr Aiyar, who is on a two-day visit to China with a high-level delegation, said Indian Oil Corporation and Chinese major SINOPEC were discussing the proposal. Being major importers of crude oil, India and China could look at this opportunity, he stated.
The specifics on sharing of information on sourcing of crude were being worked out by IOC and SINOPEC, he said.
Recounting his talks with the Chinese companies, the Petroleum Minister said there were a lot of opportunities that could be tapped by the two countries in the sector.
The possibility of Indian petroleum products being exported to China was also considered. The two countries also discussed cooperation in engineering and technical services. Elaborating, he said, this area offered tremendous opportunity for Engineers India Ltd.
The Petroleum Minister also invited Chinese companies to look at the possibility of investing in the proposed petroleum economic zones.
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