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'Mexico - India Energy Partnership Deal' May Strengthen India O&G Import Position at Latin America

 

India is looking at raising crude oil import from Mexico as it looks to broaden its import basket and cut reliance on volatile Middle-East. Oil Minister Dharmendra Pradhan on his maiden visit to Mexico sought deeper collaboration with the Latin American nation that is opening up to foreign companies.

Source:  Economic Times

 

SNP Insights

Building energy partnership with Mexico, may open the door for new partnerships with other oil & gas rich Latin American countries like Brazil, Venezuela and Columbia. Having a range of O&G suppliers in the import basket will, shield India from price volatility & supply issues from any particular region. This energy partnership deal may pave the way for cheaper shale gas supplies to India, from LATAM countries which can act as an impetus towards energy security of the country.