news has it that Mani shankar Aiyar the Minister for Petroleum is pushing for an Oil bloc in Asia to counter the Western powers. With the high growth countries like China, Japan and India in Asia, the proposal is very welcome. And Aiyar has claimed that it will not be an OPIC (organization of petroleum importing countries) bloc...which points to the fact that OPEC countries might become a part too...
interesting developments
Aiyar is also looking at restructuring the Indian Public Sector oil companies and prodding them to go global ....
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