New Delhi wants to beat its international competitors in the race for new oil concessions by building strategic partnerships with Angola and Sudan
India’s diplomats are looking for both commercial and ‘preferential’ means to access oil acreage and to increase oil supplies. However, the Indian government will need to speed up the project identification and financing award process if the world’s fifth-largest oil importer is going to obtain more of its crude from Africa. India is already importing around 3 million barrels of oil per day to meet its domestic requirements, so New Delhi’s diplomats are targetting African acreage as Chinese oil companies continue to outbid and out-politick their other Asian rivals, and Angola and Sudan are amongst the top targets....
(This article contains approximately 1174 words)
