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India seeks more access to oil fields in Brazil

NEW DELHI: Seeking to expand its search for energy security for the country, India has sought greater participation and access to the oil fields in Brazil as well as looking at the possibility of undertaking sugarcane cultivation in the Latin American nation.

The issue came up for discussion during the meeting between the Petroleum and Natural Gas Minister, Murli Deora, and the visiting Brazilian Minister for Development, Industry and Foreign Trade, Miguel Jorge.

Mr. Deora sought greater participation and presence of Indian oil companies in Brazil. Both the Ministers also discussed the possibility of India having greater access to oil fields in Brazil and expanding the ties for further cooperation in oil and gas.

New Delhi has been closely studying the issue of taking up sugarcane cultivation in Brazil and is also actively considering setting up of units to convert sugarcane into ethanol.

Leading oil marketing company Bharat Petroleum Corporation Limited (BPCL) has already taken a lead in acquiring sugarcane farms.

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