Oil Minister: India Looking to Acquire Oil Assets Abroad

Reuters

MUMBAI, May 15 (Reuters) – India is looking to buy oil assets abroad, the nation's oil minister said on Friday, adding he was seeing increased engagement in the Latin American region.

Minister Dharmendra Pradhan did not elaborate.

India is the world's fourth-biggest oil consumer, importing four-fifths of its needs as its own output shrinks.

(Reporting by Nivedita Bhattacharjee; Editing by Clara Ferreira Marques)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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