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Fresh Air of Optimism in Indian Upstream Oil Market, with Foreign Investment Pumping in to the Sector

News

In its first large scale energy sector commitment in India, bulge bracket PE investor Carlyle Group will invest up to $500 million in Magna Energy Ltd, a new India-focused upstream oil and gas company co-founded by two former Cairn Energy officials.

Source:  ET

SNP Insights

Foreign Investment in Indian upstream segment, depicts optimistic global sentiment on Indian oil exploration segment. It may bolster the investment tune of other foreign investors & hence  domestic exploration may see the much awaited surge subsequently. Yet government initiative on developing pro investment scenario in the sector regarding exploration & easing of policy regarding allocation of blocks will ensure foreign investment in the long run. 

Source: SNP Infra Research