India has discussed with China about the possibility of making 'Oil Buyers' Club' for bargaining on oil prices. The idea behind this is that there should be a strong group of importers against the domination of producers in the market, who are in a position to negotiate better and in large quantities, American crude oil supplies can be obtained.
Petroleum Minister Dharmendra Pradhan held this idea in the meeting of the International Energy Forum (IEF) in April. Accordingly, Indian Oil Corporation chairman Sanjeev Singh visited Beijing this month to discuss the issue with China National Petroleum Corp (CNPC) Chairman Wang Yilin.
List of Countries and their Capitals:
- Afghanistan: Kabul
- Australia: Canberra
- Bhutan: Thimphu
- China: Beijing
- France: Paris
- India: New Delhi
- Nepal: Kathmandu
- Pakistan: Islamabad
- Peru: Lima
- Malaysia: Kuala Lumpur
Published On : 15 Jun 2018