[Excerpt: India, which is projected to become a global economic powerhouse in the next two decades, has launched a major hunt for foreign oil to keep fuelling its growth.....only 30% of India's oil needs are met from domestic sources and this proportion is expected to halve as the country's appetite for energy grows as it continues to expand.]
http://english.aljazeera.net/NR/exeres/E0A659F9-5675-45DD-993A-0F092AF1ECAB.htm India bags Qatar oil field contract Wednesday 02 March 2005, 20:17 Makka Time, 17:17 GMT The overseas arm of India's state-run Oil and Natural Gas Corp has won a contract to explore and develop Qatar's offshore Najwat Najem oilfield, a company official said. "The Najwat oilfield is estimated to hold 300 million barrels of oil reserves," RS Butola, managing director of Oil and Natural Gas Commission (ONGC) Videsh, told the Press Trust of India news agency on Wednesday. Butola said the Indian firm edged out a dozen companies to nail the contract. On Tuesday ONGC Videsh and its US partner won exploration rights for an oilfield at north Ramadan in Egypt. Major hunt India, which is projected to become a global economic powerhouse in the next two decades, has launched a major hunt for foreign oil to keep fuelling its growth. Only 30% of India's oil needs are met from domestic sources and this proportion is expected to halve as the country's appetite for energy grows as it continues to expand. ONGC Videsh has already invested $2.5 billion in Russia's Sakhalin-I project, in gasfields in Iran, in Vietnam, Sudan and in a number of other countries. It is now looking to invest at least $3 billion more to buy stakes in oilfields and gasfields in several other nations including Kazakhstan, Kuwait, Bangladesh, Yemen and Ecuador. AFP enditem ------------------------ Yahoo! Groups Sponsor --------------------~--> Take a look at donorschoose.org, an excellent charitable web site for anyone who cares about public education! http://us.click.yahoo.com/_OLuKD/8WnJAA/cUmLAA/TySplB/TM --------------------------------------------------------------------~-> -------------------------- Want to discuss this topic? Head on over to our discussion list, [EMAIL PROTECTED] -------------------------- Brooks Isoldi, editor [EMAIL PROTECTED] http://www.intellnet.org Post message: [email protected] Subscribe: [EMAIL PROTECTED] Unsubscribe: [EMAIL PROTECTED] *** FAIR USE NOTICE. This message contains copyrighted material whose use has not been specifically authorized by the copyright owner. OSINT, as a part of The Intelligence Network, is making it available without profit to OSINT YahooGroups members who have expressed a prior interest in receiving the included information in their efforts to advance the understanding of intelligence and law enforcement organizations, their activities, methods, techniques, human rights, civil liberties, social justice and other intelligence related issues, for non-profit research and educational purposes only. We believe that this constitutes a 'fair use' of the copyrighted material as provided for in section 107 of the U.S. Copyright Law. If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/osint/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
