National   

Deora, Zubkov discuss oil and gas

NEW DELHI: Petroleum and Natural Gas Minister Murli Deora on Monday met Russian Prime Minister Victor A. Zubkov and discussed relations, including enhanced cooperation in the oil and gas sectors. India also raked up the issue of getting a stake in Sakhalin III and IV oil fields off the Russian east coast.

Mr. Deora’s visit is a follow-up to the successful summit of Prime Minister Manmohan Singh with Russian President Vladimir V. Putin held earlier this month in Moscow. Mr. Deora is accompanied by a high-level delegation of Indian oil marketing companies, including Petroleum Secretary M. S. Srinivasan.

Many avenues of cooperation were discussed. The emphasis was on mutually beneficial projects in upstream, mid-stream and downstream sectors in India, Russia and third countries between the companies of the two countries in the hydrocarbon segment.

It was agreed that the national oil companies should concretise mutually beneficial projects in the fields of exploration and production, grassroots refineries, modernisation of refineries; gas-based petrochemical plants, gas processing plants, and participation in liquefied natural gas (LNG), and inform the progress to the leadership of the two countries.

Mr. Deora took the opportunity to seek a stake for India in the Sakhalin III and IV oil fields. Both the sides noted that India had emerged as a hub of refining in Asia. Mr. Deora underlined that Indian exports of refined petroleum products to some of the world’s most sophisticated markets had touched $40 billion. The growing refining sector in India also offered immense opportunities to the Russian companies.

The discussions will continue at the second Indo-Russian Forum on Trade and Investment scheduled to be held in February 2008 in New Delhi.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Restore peace in Assam: CPI(M)
3 held for assault on Adivasi girl
U.P. intelligence set-up to be strengthened
Nuclear debate tomorrow
We closed the gates to BJP in south: Gowda
Lot of planning behind blasts: Advani
Why blame judiciary alone for delays, asks CJI
Sibal leads team for West Asia summit
RS panel too lets off Sen
GNLF strike continues
Concern over maltreatment of Malaysian Indians
Rajnath’s plea
Swamy criticises police attack
Seven law varsities sign MoU on CAT
Cabinet nod for revival of sick unit in Vizag
More security for Ajmer dargah
Centre gets more time in Quattrocchi case
New licences as per existing Telecom policy: A. Raja
Unrest in the name of religion will spell disaster, says Buddhadeb
Protect workers: Oscar Fernandes
Deora, Zubkov discuss oil and gas

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu