India, China, Japan and Korea have agreed to boost cooperation in the energy sector in view of their consumption of hydrocarbons, primarily in business to business segment, Oil Minister Dharmendra Pradhan said today.
Speaking at the concluding conference of International Energy Forum (IEF) he said, cooperation among oil-consuming nations is warranted in view of oil-producing countries charging Asian premium from India, China and others for supplying petroleum.
When asked about India joining hands with China to resolve the Asian premium issue he said: "We have assigned this responsibility to IOC Chairman Sanjiv Singh and from their side Chairman of China National Petroleum Corporation will work on the issue. More cooperation is expected."
"In some areas both of us (India and China) are working together. In some parts of Africa, CNPC and OVL (ONGC Videsh Ltd) are natural partners," he said.