India Must Fight Off China

India should aggressively step up its hunt for foreign petroleum assets and plan a bigger strategic reserve of crude oil to increase its energy security, a panel set up by the oil ministry said on Monday.

The panel was formed last year to suggest ways to strengthen state firms in the wake of competition from China in the race for foreign oil and gas projects.

“Overseas exploration and production should be pursued aggressively by targeting at least 15 per cent of crude oil imports through the equity oil route within the next two-three years,” the committee said in the report obtained by Reuters.
Reuters via The Financial Express