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• Indian Minister of Oil Jaipal Reddy, who is leading the Indian delegation to 20th World Petroleum Congress(WPC) at Doha, undertook a series of meetings with his counterparts around the world to explore new opportunities for domestic oil companies and investments.The outcome from the meetings has been positive, the government said.Reddy brought forward the topic of rising oil prices too but the question remains if these meetings would finally be beneficial by putting a leash on the rising oil prices.In his meeting with Minister of Oil and Gas of Oman, Mohammed Bin Hamad Al Rumhy, on Tuesday, they reviewed the progress of Bina Refinery project, a joint venture of BPCL and Oman Oil Company.
• The issues of possible investment by Oman in the projects in India, including petrochemical projects, were discussed.India told Oman that its refinery production has now stabilized within a reasonable time. The refinery capacity could also be increased in view of the benefits that will accrue from higher capacity, India said.The Omani side assured to consider the interest shown by the Indian companies in participating in the downstream projects, consultancy & management, upstream opportunities and gas supply to India.Jaipal Reddy also had a bilateral meeting with Vice Minister of Energy and Mineral Resources Kazakhstan, LyazzatKiinov.
• ONGC reviewed the cooperation in the upstream projects and expressed keen desire to continue expanding the relations further in the oil and gas sector.Gabon's Minister of Mines, Oil and Hydrocarbons Alexander BARRO CHAMBRIER invited Indian companies to invest in their oil and gas and sector.They invited representatives of Indian companies to visit Gabon for taking stock of the opportunities.It was informed that Shell is developing LNG (Liquefied natural gas) facilities. PLL(Petronet LNG Ltd) India expressed desire to explore participation in the natural gas projects.The Indian Petroleum Minister during his meeting with his Bahrain counterpart Abdul Hussain Bin Ali Mirza discussed possibilities of Indian investments in Bahrain oil projects and of greater supply of crude oil to India.
• Bahrain invited Indian oil companies to take up new projects available after restructuring of the oil and gas sector in the country.It was said crude production in Bahrain has now increased by 50% which has earlier seen to decline. India sought more supply of crude oil on term contract.During another bilateral meeting between Jaipal Reddy and Guenther Oettinger, Commissioner Energy, European Union, the latter proposed enhancing cooperation in developing common safety regulations based on best practices.Indian side informed that Oil Industry Safety Directorate formulates the standards for Indian oil industry.
• They asked EU to send a formal proposal which can be considered by India.The issues of rising oil prices, efficient use of fuels and alternative sources of energy were discussed in the meeting.Earlier, late on Tuesday Jaipal Reddy had a bilateral meeting with Dy, Minister of Natural Resources, Canada.The issues of possible participation of OVL (ONGC Videsh Limited) and other Indian companies in exploration of sand oil/tar sands and the shale oil/gas were discussed in the meeting.J.Reddy also met Rostam Ghasemi, Minister of Petroleum, Iran and Minister of Energy & Industry, Qatar Dr Mohamed Bin Saleh Al-Sada and discussed issues of enhancing cooperation in the hydrocarbon sector.
• He asked Qatar for the possibilities of more LNG supplies to India.Reddy also met UAE Minister of Energy Mohammed bin Dha'en Al Hamili on Sunday.He discussed possibilities of expanding mutual cooperation in the oil sector including the possibilities of Indian companies being considered for participation in the upstream sector.UAE Minister assured to consider the proposal. India also proposed import of higher quantities of crude oil and LPG.The two ministers recalled long-standing friendly relations between the two nations and called for strengthening the economic cooperation further.

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