April 26, 2018 / 8:48 AM / 3 months ago

India will network with Asia's major oil buyers to negotiate with sellers - minister

NEW DELHI (Reuters) - India will work to create a network with other major oil buyers in Asia, such as China, South Korea and Japan, to negotiate better terms with sellers, the country’s Oil Minister Dharmendra Pradhan said in New Delhi on Thursday.

FILE PHOTO: India's Oil Minister Dharmendra Pradhan speaks during an interview with Reuters in New Delhi, India, June 12, 2015. REUTERS/Anindito Mukherjee/File Photo

“I see bigger co-operation between four bigger economies of Asia... India will try to create a network between these four economies,” he said.

“All the four major Asian economies should come together. And India will try to create a network for that within the four countries,” he said, referring to a need to have a greater say in importing crude oil from OPEC nations.

Reporting by Nidhi Verma; Editing by Christian Schmollinger

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