© Reuters. SUBMIT PICTURE: The Chevron logo design is envisioned after the U.S. federal government gave a six-month license permitting Chevron to improve oil output in U.S.-sanctioned Venezuela, in Caracas, Venezuela, December 2, 2022. REUTERS/Gaby Oraa
BRAND-NEW DELHI (Reuters) – Worldwide energy majors Chevron Corp (NYSE:-RRB-, Exxon Mobil Corp (NYSE:-RRB- and TotalEnergies have an interest in buying India’s oil and gas expedition and production sector, the nation’s oil minister stated in a speech on Friday.
India, the world’s 3rd greatest oil importer and customer, purchases more than 84% of its oil requires from abroad and wishes to rapidly monetise its hydrocarbon reserves to decrease its reliance on pricey imports.
” India is prepared to check out chances for joint advancement production of oil and gas possessions for shared advantage and likewise welcomes financial investment in our domestic E&P (expedition and production) sector,” Hardeep Singh Puri stated.
The minister included that India intends to double the location under oil and gas expedition to 500,000 sq km by 2025.
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