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India eyes opportunities in African hydrocarbon sector

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INDIA is reportedly seeking close co-operation with countries in Africa, home to some of the world’s large hydrocarbon resources, to meet its energy and downstream industries’ requirements. To explore opportunities in the sector, Dharmendra Pradhan, India’s minister of state for petroleum and natural gas, along with senior executives of public sector oil & gas companies, met government representatives of African countries such as Nigeria, Ghana, Angola, Tanzania, Mozambique, South Sudan, Algeria and Gabon during the 3rd India Africa Forum Summit.
According to officials, India is keen to intensify its hydrocarbon co-operation with the African countries in upstream, midstream and downstream areas. Pradhan stressed upon the potential to graduate to an energy partnership between India and the African nations.
India imports about 33 million tonnes crude oil from Africa, which constitutes 18 percent of the country’s total crude import. Indian public sector oil and gas companies have invested about $ 8bn in oil and gas assets in Mozambique, Sudan and South Sudan. Engineers India (EIL) has been associated with refining sector in several countries as well.
To further give a push to cooperation in oil and gas sector, the government has decided to organise the 4th India-Africa hydrocarbon conference on January 21-22, 2016 in New Delhi.

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