India to invite foreign firms to invest in state-owned oil companies
International energy firms will be invited to participate in India’s privatization of state-owned oil companies, the country’s Oil Minister Dharmendra Pradhan said.Pradhan said Indian Prime Minister Narendra Modi recently met with the chief executives of energy firms in Houston, including those from Exxon Mobil Corp, BP Plc, Royal Dutch Shell, Rosneft Oil Co, Saudi Aramco and Abu Dhabi National Oil Co (Adnoc).This is the first time Pradhan has signaled the government’s intent bring foreign investment into the country’s state-owned oil companies.“We are inviting oil majors,” Dharmendra Pradhan told reporters at an energy conference in Abu Dhabi. “They are all towards India’s energy market,” he said. Asked if the response was positive, he sai.....