India urges oil companies to Keep its interest in mind while fixing price


India urges oil companies to Keep its interest in mind while fixing price

India’s Petroleum Minister Dharmendra Pradhan on Monday asked oil-producing countries to keep the interests of large consumers like India in mind while fixing prices of oil.

Speaking at the Ministerial session on Abu Dhabi International Petroleum Exhibition and Conference here Mr Pradahan  said that there was a need to stop price volatility in the energy sector.

Public sector companies under Petroleum and Natural gas Ministry like HPCL, IOCL, BPCL, ONGC, OIL and EIL have set up stalls in the exhibition. Director General Hydrocarbons also has a separate stall there besides companies like CII and FICCI have their presence in it.

On the sidelines of ADIPEC, a MoU was signed between India and Abu Dhabi National Oil company for storage of crude oil at Padur in Karnataka.

Later the Minister accompanied by Sultan Al Jabar, UAE Minister of state and CEO of Abu Dhabi National oil company visited the India Pavilion of Federation of Indian Petroleum Industry which he inaugurated. Read More

Leave a Reply

Your email address will not be published.