| Global oil inventories continue to rise, ships are being lined up to hold oil, while agencies warn the world is "drowning" in the black stuff.
But now India wants to unlock oil and gas resources worth almost $40bn (£28.2bn) by simplifying licensing rules and offering price incentives to recover gas from difficult offshore fields. It currently imports about two-thirds of its oil needs, with bulk of that supplied from the Middle East...............................................Full Article: Source
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