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China welcomes investment in oil and gas sector
By Our Special Correspondent
NEW DELHI,
OCT. 13.
The Chinese Ambassador, Hua Junduo, has proposed that India and China should explore the possibility of "mutual investment" in hydrocarbons.
Speaking after meeting the Petroleum Minister, Mani Shankar Aiyar, he said Indian companies are welcome to invest in oil and gas exploration and production in China. Similarly, Chinese oil companies would also explore prospects for investing in the refining, exploration and production as well as petrochemicals sectors.
He said his country was greatly interested in the Asian oil buyers-sellers meeting that Mr. Aiyar had convened in January next year. This would bring the four big Asian importing countries of India, China, Korea and Japan together at a meeting with major oil exporters such as Saudi Arabia, Kuwait and Iran.
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