India China MOU for oil and gas exploration
India and China have inked a major pact for joint exploration, production and acquisition of oil assets in third world countries. The pact has the potential to substantially reduce the two nations` energy costs, report agency sources. Minister for Petroleum and Natural Gas, Murli Deora disclosed that the two major oil consumers recently concluded a joint bid in Columbia and Syria, quoting this to be a historic moment in Indo-China relations.
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