India Facing Fierce Competition in its Search for Oil and Natural Gas Resources

While energy-strapped India is scouring the globe for oil and gas – a bid that recently took it to Sudan and Russia where India signed two memoranda of understanding, and to Iran where it forged two agreements

Large, cash-rich public-sector companies like the Oil and Natural Gas Corp. (ONGC) and the Indian Oil Corp. are investing outside the country but face fierce competition from Chinese and other international interests, Somers noted.

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