Friday, December 13th, 2019

India Seeks Higher Crude Oil Supplies from Angola on Term Contract

INVC,, Delhi,, Petroleum Minister Shri Murli Deora sought more crude oil supply from Angola on Term Contract at a bilateral meeting with his Angolan counterpart Mr Jose Maria Botelho de Vasconcelos here today. The visiting Minister agreed to consider the proposal and supported enhancing cooperation between the two countries in various areas of hydrocarbon sector. The two sides also agreed for signing of an MOU which will help in speeding the up the process of cooperation. Indian side further expressed its keen desire to pursue investments in the upstream projects. It was stated that oil PSUs led by ONGC Videsh Ltd (OVL) are looking forward for the opportunities in the forthcoming round of exploration blocks as also for bilateral projects. IOC, a leading refining and marketing PSU is also exploring possibility of participating refinery projects in Angola. India offered training facilities to the oil personnel of Angola. Indian side also expressed interest in sourcing LNG from Angola. It was suggested that GAIL and Petronet LNG Ltd (PLL) would hold discussions with the Angolan companies in this regard. After the bilateral meeting, Shri Deora inaugurated Petrotech 2010 Exhibition at Pragati Maidan He was joined by the visiting Ministers Angola,Sudan and Shri Jitin Prasad, MOS(PNG). This showcases the latest technologies of both Indian and international oil and gas companies . [caption id="attachment_20147" align="alignleft" width="300" caption="The Union Minister for Petroleum and Natural Gas, Shri Murli Deora meeting with his Angolan counterpart, Mr. Jose Maria Botelho de Vasconcelos, in New Delhi on October 31, 2010."]The Union Minister for Petroleum and Natural Gas, Shri Murli Deora meeting with his Angolan counterpart, Mr. Jose Maria Botelho de Vasconcelos, in New Delhi on October 31, 2010.[/caption]

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