Barclays sees Brent trading near $60 a barrel for two years
The finance minister stated the strategic disinvestment of the two state-run companies is critical for the government to meet its disinvestment target of Rs 1 trillion for the current fiscal year.
September crude output fell by 660,000 bpd to 9.129 million bpd, figures from the Joint Organizations Data Initiative (JODI) showed.
Prime Minister Narendra Modi is attending the Future Investment Initiative, dubbed 'Davos in the desert', in Saudi Arabia
The minister for petroleum and natural gas was speaking at a meeting attended by a Mongolian business delegation led by the country's President Khaltmaagiin Battulga
The big question is how far India has become a favoured destination for the oil refineries to uproot their investments from Europe and elsewhere to plug and play here
The project is joint venture between Saudi Arabian oil companies, Aramco and Adnoc, and Indian companies, Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation
Last week, Petronas and a consortium led by Japan's JXTG Holdings Inc were among companies interested in buying a stake in Bina oil refinery
In June, RIL, along with its partner BP Plc, announced the sanction of the MJ project in Block KG-D6 on the eastern coast of India
Pakistan wants to attract investment and other financial support to tackle a soaring current account deficit caused partly by rising oil prices