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Scouting for oil-producing assets overseas: Oil India head

State-run explorer Oil India is looking to buy oil-producing assets overseas, Chairman NM Borah told reporters on Tuesday, but did not provide any details on the likely locations.

May 31, 2011 / 05:03 PM IST
 
 
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State-run explorer Oil India is looking to buy oil-producing assets overseas, Chairman NM Borah told reporters on Tuesday, but did not provide any details on the likely locations.

India is the world's fourth-largest oil importer, importing about 80% of its crude needs. It has been scouting for oil and gas assets abroad to meet demand in an economy growing around 8.5%, and to feed its expanding refining capacity.

first published: May 31, 2011 04:51 pm

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