Opec, the grouping of oil exporting countries, has agreed to India’s proposal for setting up a joint working group to asses future scenarios for the oil industry as energy mix in major economies undergo rapid changes due to expansion in renewable sources, oil minister Dharmendra Pradhan told TOI on Thursday.
Pradhan proposed the joint working group during the India-Opec Institutional Dialogue co-chaired by him in Vienna earlier this week.
The acceptance of the proposal by the grouping, which accounts for nearly 40% of global supplies, is being seen as an indication of India’s growing importance in the global oil market due to the combined effect of its hunger for fuel and rapidly expanding green energy capacity. Read More…
Credit By: The Times Of India
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