Indian Petroleum Minister Murli Deora is meeting with Russian Prime Minister Vladimir Putin to discuss closer energy cooperation ahead of next month’s bilateral summit during President Dmitry Medvedev’s New Delhi visit. Both countries hope to create closer energy ties.
The Russian Natural Resources Ministry has even allowed Indian oil corporation ONGC Videsh Ltd to acquire London listed Imperial Energy stating that its Western Siberian assets were non strategic which is OVL's biggest acquisition overseas. In return Russia is planning on carrying out exploration and extraction of hydrocarbons in the Bay of Bengal jointly with Indian petroleum gas giant GAIL.
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