Companies / India
IOCs Drawn To India
September 2006 | Industry NewsIndia's biggest-ever offer of exploration rights has prompted high levels of interest from international oil companies (IOCs), attracted by the country's reserves potential, its regulatory framework and its favourable business environment. With international exploration companies dealing with contracts being revoked in Russia, Bolivia, Venezuela and Chad, India is in a good position to exploit its favourable investment climate in order to attract increasing levels of foreign direct investment (FDI) into its oil and gas industry. However, this time around it needs to be more generous to international bidders and avoid favouring domestic groups, with last year's fifth licensing round proving
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