• 4 minutes Trump will meet with executives in the energy industry to discuss the impact of COVID-19
  • 8 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 11 minutes Why Trump Is Right to Re-Open the Economy
  • 13 minutes Its going to be an oil bloodbath
  • 7 mins Ten days ago Trump sent New York Hydroxychloroquine. Being administered to infected. Covid deaths dropped last few days. Fewer on ventilators. Hydroxychloroquine "Cause and Effect" ?
  • 5 hours US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 19 hours While China was covering up Covid-19 it went on an international buying spree for ventilators and masks. From Jan 7th until the end of February China bought 2.2 Billion masks !
  • 10 hours Mr
  • 7 hours Free market or Freeloading off the work of others?
  • 7 hours China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 8 hours Marine based energy generation
  • 21 hours What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 21 hours How to Create a Pandemic
  • 22 hours Apple to Bypass Internet and Beam Directly to Phones
  • 14 hours Which producers will shut in first?
  • 21 hours Real Death Toll In CCP Virus May Be 12X Official Toll

Breaking News:

WTI Slides On Huge Crude Inventory Build

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

This Is A New Target For These Oil Heavyweights

I wrote last week about how India is trying to attract outside investment to its hydrocarbon sector.

Reports suggest this may be a two-way street.

India's Ministry of Petroleum and Natural Gas announced last week that it is pursuing outward investment in a new part of the world: Canada. Indian oil and gas firms will reportedly look to "increase their investments and presence in the Canadian Hydrocarbon (sic) sector".

As part of the investment push, India's oil consumers will also look to bring in more Canadian crude. With a term contract for deliveries to Indian Oil Corporation apparently well-advanced already.

This is probably overdue. India has been a notably absent player in the Canadian oil and gas sector. A space where Chinese, Japanese and Korean firms have all been increasingly active.

It's likely worth India's while. Prizes like the oil sands and the burgeoning liquefied natural gas export business from the Canadian west coast are some of the biggest energy developments going globally.

But it appears that India wants something beyond supplies of Canadian oil or natgas. Namely, access to advanced technology in the services sector. Ministry officials in India said that the deal with Canada should make state-of-the-art fracking technology available to Indian E&Ps.

There's indeed been a lot of talk about shale gas development in India. Last week's announced doubling of the domestic natgas price being a big step in aiding such development.

We'll see if any actual shale drilling comes to fruition. There are many obstacles to economic production. Not the least of which being India's notoriously corrupt and bureaucratic politics. Which are unlikely to offer the kind of smooth operating environment needed to make "factory" production like shale economic.

But if the pursuit of better drilling technology does lead to greater Indian investment in Canada, it will be beneficial for the sector. There are lots of good project here that could use a deep-pocketed funding partner. Perhaps that space will grow a little more competitive over the coming months.

Here's to bilateral thinking,

By. Dave Forest


Download The Free Oilprice App Today

Back to homepage






Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News