India to participate in oil block auctions in UAE: Dharmendra Pradhan

Vastavam web: India is in talks with some UAE-based companies to jointly bid for oil blocks in UAE, India’s oil minister said on Monday. “We are in talks that India could bid in the next licensing round of UAE with some Middle Eastern nation companies like Mubadala,” Dharmendra Pradhan, India’s oil minister said. “Oil producers don’t want to miss India’s bus,” Pradhan said referring to India’s enhanced role in global markets. Pradhan said India would consider leasing a part of its third strategic reserve in South Indian city Padur if Abu Dhabi National Oil Company is interested.