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India wants closer links with Russian petroleum sector

INDIA is promoting the idea of joint ventures between Russian and Inidan petroleum companies, as ...

India wants closer links with Russian petroleum sector

Indian oil minister Mani Shankar Aiyar - in Moscow to discuss the purchase of Russian oil assets, including a stake in ex-Yukos unit Yuganskneftegaz - said he was keen to see Indian and Russian firms working together in both countries.

"The Soviet Union had a key role in ensuring Indian territorial integrity for 50 years. I am sure Russia will play the same role in ensuring our energy security over the next 50 years," Aiyar told reporters at a roadshow to woo investment in new Indian onshore and offshore blocs.

India has held roadshows in several Western countries in recent years but this was its first in Russia. It comes at a time when India is looking to buy stakes in oilfields in Russia and Central Asia, including Yugansk, Sakhalin-3 and Vankor, as well as Kurmangazy in the Kazakh section of the Caspian.

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