India seeks to use its oil thirst to drive bargains
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New Delhi
INDIA is trying to use its position as one of the world's biggest energy consumers to strike better bargains for its companies with oil exporting nations, in a marked change of approach under Prime Minister Narendra Modi.
The oil ministry is moving beyond seeking additional barrels for import and is in talks with exporters. Now, the energy-deficient country wants to use its thirst for oil as a weapon to broker deals to help strengthen its economy and create jobs, Oil Minister Dharmendra Pradhan told Reuters in an interview. "We are a market. The quantum that we buy is our weapon," 45-year-old Mr Pradhan said.
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