Partner Channels: Auctions | Auto | Bill Pay | IT Education | Jobs | Lifestyle | Technology | Travel
April 14, 2001
|
|
|
|
|
|
||
|
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Weather | Wedding | Women Partner Channels: Auctions | Auto | Bill Pay | IT Education | Jobs | Lifestyle | Technology | Travel |
||
|
|
||
|
Home >
Money > Business Headlines > Report April 14, 2001 |
Feedback
|
|
|
IOC hunts upstream opportunities abroadV Phani Kumar Indian Oil Corporation is on the lookout for upstream exploration operations overseas in a bid to transform itself into an integrated oil company. The company is looking at close to a dozen overseas upstream projects, including one in Kuwait. This is the first time that the company is looking at acquiring oil fields outside the country and is being seen as a preparatory move for the post April 2002 regime, when the petroleum sector in the country is expected to be completely deregulated. O N Marwaha, director (marketing) of the company said: "We are diversified in upstream activities. In more than a dozen projects, we are negotiating in the international markets. We are looking at middle-east countries, including Kuwait." Oil and gas analysts here have said that the company's approach is in line with international oil companies, which have a presence in both the downstream and upstream activities. A presence in both areas of operations insulates companies from the "vagaries" of fortune in both downstream and upstream activities, and protecting the company's margins. The company, in addition to overseas oil fields, is also looking at possibilities in exploration within the country. The company is planning to jointly bid with the Oil and Natural Gas Commission for the deep-water blocks on offer through New Exploration Licensing Policy on a risk share basis. Powered by ALSO READ:
|
||||
