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India, China, Japan to expand cooperation in energy sector

Press Trust of India  |  New Delhi 

India, China, and have agreed to boost cooperation in the in view of their consumption of hydrocarbons, primarily in segment, Oil Dharmendra said today.

Speaking at the concluding conference of International Energy Forum (IEF) he said, cooperation among is warranted in view of charging Asian premium from India, and others for supplying petroleum.

When asked about joining hands with to resolve the Asian premium issue he said: "We have assigned this responsibility to and from their side of National Petroleum Corporation will work on the issue. More cooperation is expected."

"In some areas both of us (and China) are working together. In some parts of Africa, CNPC and OVL (ONGC Videsh Ltd) are natural partners," he said.

Li Fanrong, Deputy Administrator, National Energy Administration, China said the two nations can work together in as consumer as well as The next IEF will be held in China.

About reported government direction to companies for not hiking fuel prices, said, there is no such direction.

Yesterday, Saudi Aramco, the world's largest entered into an agreement to pick up 50 per cent stake in a planned USD 44-billion refinery-cum-petrochemical project in

On Shiv Sena's opposition to the deal, the said said the deal is in the favour of the people of as the investment will boost state's economy, job creation and industrialisation.

informed that more than 1,300 representatives participated in the IEF. As many as 53 representatives from different countries attended the forum and 38 ministers marked their presence.

On the occasion, Foreign said has deployed USD 8 billion on across the country and share of in the will increase from 6.5 per cent now to 15 per cent by 2020.

She also said LPG penetration in the country has increased from 66 per cent in 2014 to 80 per cent in 2018, but India would be a responsible consumer despite the fact that its per capita consumption is about one tenth of the developing nations.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 12 2018. 18:00 IST