Oil giants want to invest in India
2023.01.13 04:53
Oil giants want to invest in India
By Ray Johnson
Budrigannews.com – Chevron Corp., a global energy powerhouse (NYSE:), NYSE: Exxon Mobil Corporation In a speech on Friday, India’s oil minister stated that TotalEnergies is interested in investing in the country’s oil and gas exploration and production sector.
India, the third-largest oil importer and consumer in the world, wants to quickly monetise its hydrocarbon reserves in order to lessen its reliance on expensive imports.
Hardeep Singh Puri stated, “India is ready to explore opportunities for joint development, production, and investment in our domestic E&P (exploration and production) sector for mutual benefit.”
By 2025, the minister said, India wants to double the amount of land under oil and gas exploration to 500,000 square kilometers.
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