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Chevron, Exxon and Total keen to invest in India, says minister

NEW DELHI (Reuters) - Global energy majors Chevron Corp (NYSE:CVX), Exxon Mobil Corp (NYSE:XOM) and TotalEnergies are interested in investing in India's oil and gas...
Chevron, Exxon and Total keen to invest in India, says minister © Reuters. FILE PHOTO: The Chevron logo is pictured after the U.S. government granted a six-month license allowing Chevron to boost oil output in U.S.-sanctioned Venezuela, in Caracas, Venezuela, December 2, 2022. REUTERS/Gaby Oraa
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NEW DELHI (Reuters) - Global energy majors Chevron Corp (NYSE:CVX), Exxon Mobil Corp (NYSE:XOM) and TotalEnergies are interested in investing in India's oil and gas exploration and production sector, the country's oil minister said in a speech on Friday.

India, the world's third biggest oil importer and consumer, buys more than 84% of its oil needs from overseas and wants to quickly monetise its hydrocarbon reserves to reduce its dependence on costly imports.

"India is ready to explore opportunities for joint development production of oil and gas assets for mutual benefit and also invites investment in our domestic E&P (exploration and production) sector," Hardeep Singh Puri said.

The minister added that India aims to double the area under oil and gas exploration to 500,000 sq km by 2025.

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21-02-2024 06:04:34 (UTC+7)

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    GBP/USD 1.2622 Sell  
    USD/JPY 149.98 ↑ Buy  
    AUD/USD 0.6549 Neutral  
    USD/CAD 1.3525 ↑ Buy  
    EUR/JPY 162.12 ↑ Buy  
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    Gold 2,035.70 ↑ Sell  
    Silver 23.038 Sell  
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    Crude Oil WTI 77.23 ↑ Buy  
    Brent Oil 82.57 Buy  
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    Allianz 249.40 Sell  
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    Lufthansa 7.339 ↑ Buy  
    Siemens AG 168.72 Neutral  
    Deutsche Bank AG 11.954 ↑ Sell  
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