New Delhi moves to pool oil firm resources

Strapped by ever increasing energy shortages, New Delhi is seeking to work out a strategy to take on Chinese companies in winning oil and gas stakes around the world, even as the two emerging economies slug it out to meet burgeoning energy demand. Currently, nearly 70 percent of India’s crude requirements are met by imports, a figure estimated to go up to 90 percent by 2030, unless urgent steps are taken.

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