India looking to acquire oil assets abroad – Oil minister

India's Oil Minister, Dharmendra Pradhan

India’s Oil Minister, Dharmendra Pradhan

16 May 2015, Mumbai – 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.
*Nivedita Bhattacharjee; Editing by Clara Ferreira Marques

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