"Iraq offered three discovered oil blocks (Middle
Furat oilfields) to India...agreed to consider investing in the 300,000
barrels/day of Paradip refinery..."
– Reuters
India got 3 discovered oil blocks, fine. But, anyone
noticed the catch here? All are on nomination basis!!! Russia, Central Asia and
now Middle East... its more to do with government to government (G2G) relations
than acquiring assets from competitive open markets. I don't believe this is
the way to go forward. Our oil exploration companies have to elevate their
profile, become competitive on their own. So that they can bid and purchase oil
and gas blocks abroad, even without the weight of GOI.
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