Business Daily from THE HINDU group of publications
Monday, Dec 18, 2006
ePaper
Business Daily from THE HINDU group of publications Monday, Dec 18, 2006 ePaper |
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Government
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Foreign Relations Industry & Economy - Petroleum India, China to co-operate in oil exploration Our Bureau
New Delhi , Dec. 17 India and China have inked a memorandum of understanding (MoU) for strategic co-operation in exploration and production (E&P) activities in Third World countries. This MoU signifies expanding co-operation between the two countries in the hydrocarbon sector. While the Union Petroleum Minister, Mr Murli Deora, who is in Beijing, signed the MoU for India, the Chairman of National Development and Reform Commission, Mr Ma Kai, inked the MoU from the Chinese side. Mr Deora expressed hope that this MoU would give a fillip to joint E&P efforts and pave the way for national oil companies of India and China to successfully bid for overseas hydrocarbon assets. An official release said that such co-operation was significant and mutually beneficial as both countries are facing increased hydrocarbon requirements to fuel their rapidly expanding economies.
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