India, China pin down $573m Syria deal

India and China, the most aggressive shoppers for oil and gas assets in the world, and normally archrivals in the race for overseas oilfields, have finally come together to pursue their energy security in the global arena.

..But this cooperation could be bad news for Western oil companies. Analysts said that if the two countries teamed up on a regular basis, it should worry Western oil majors. “The Indian and Chinese companies are willing to pay a higher premium for assets. The pressure is certainly on the majors,” said Praveen Martis, an analyst at consultancy Wood Mackenzie, in a Reuters report.

Asia Times