‘India must ink long-term oil deals with exporting nations’

The country should acquire oil assets overseas and if feasible enter into long-term bilateral development and supply agreements with oil-exporting countries to meet its future energy needs at a low cost.
"As India's status as oil consumer will grow in the world in the next decade and limited oil reserves pose a threat, the country should use this period of relative calm in oil markets to acquire oil assets overseas...
"...And if feasible enter into long-term bilateral development and supply agreements with oil-exporting countries," Equentis Capital director Vikram Dhawan said in its research report here.
While sentiment towards oil prices may be subdued in the near-term on account of softer demand growth coupled with supply surge, it will be foolhardy to presume stable or lower prices in the long-term, Dhawan said.