Domestic Dominance?

April 2006 | Company News Alert

The fifth Indian licensing round, staged last year, held much promise in terms of high-level international oil company (IOC) interest. The end result was very little for the foreign companies and a great deal for the domestic energy groups. The much-lauded wall of international exploration money failed to materialise simply because local companies were awarded most of the acreage. It is therefore hardly surprising that IOCs are now demanding a level playing field. It would be unwise for the Indian government to ignore them, if it wishes to secure the financial and technical strength of the international oil community. It

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