Indian companies are willing to participate in the exploration and production activities in Mexico, including the deep water and unconventional resources, Petroleum and Natural Gas Minister Dharmendra Pradhan told Mexican officials during his recent visit there.
Pradhan also offered the Mexican side to consider using Indian engineering, procurement and construction as well as infrastructure companies for building refineries.
The Mexican Energy Minister Pedro Joaquín Caldwell and PEMEX Chief Executive Officer Emilio Lozoya Austin invited Indian investment in all areas of the hydrocarbon sector.
The two sides also agreed to set up a Joint Working Group on hydrocarbons at the official level to identify concrete areas of co-operation in the sector.
Currently, IndianOil, Reliance Industries and Essar buy about 6 million tonnes of crude oil from Mexico.
Pradhan informed the Mexican officials that India is trying to diversify its import sources of energy and more than 20 per cent of crude import of India is presently sourced from Latin America.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.