34 C
Delhi
Monday, May 25, 2020

Modi’s Houston visit may seal major energy deal

Modi to hold 20 bilaterals in New York, Kashmir won't figureNew Delhi, Sep 20 (IANS) Prime Minister Narendra Modi’s upcoming agenda-heavy US visit may start a new phase of corporate relations between major energy companies of the two countries.

According to industry sources, an energy major of India Inc may finalise a deal to pick up equity stake in a US-based Fortune 500 oil company. Reliance Industries (RIL), Adani, and Vedanta are among the companies with significant investment in the oil and energy segment.

- Advertisement -

RIL, Vedanta Cairn or Adani may take up a stake in an American oil major, sources said.

CEOs of 16 leading American companies will attend the roundtable with the Prime Minister in Houston on Saturday, including Baker Hughes, BP, Cheniere Energy, Dominion Energy, Emerson Electric Company, ExxonMobil, Perot Group and Hillwood, IHS Markit, LyondellBasell Industries, McDermott, Schlumberger, Tellurian, Total, Air Products, Vinmar International and Westlake Chemicals.

Further, public sector oil companies including Indian Oil Corp are also likely to use the opportunity to strike oil supply deals, in the wake of the recent disruption in oil markets post drone attacks at Aramco’s two oil processing units in Saudi Arabia.

Modi will arrive in Houston on Saturday and head for the roundtable with the chiefs of the energy majors. He is also expected to meet top executives of various start-ups and encourage them to have a wide presence in India.

On the bilateral level, he would discuss various trade pacts with his US counterpart. Besides cooperation in the field of defence and energy, the two countries are likely to discuss action-steps for higher trade and commerce.

Modi will be in the US from September 21 to 27. He will participate in a rally of Indian-Americans in Houston besides addressing the UN General Assembly in New York.

Total Cases

Active Cases

Recovered

Deaths

131869

             73560

54440

3867

Covid 2019 India Stats Overview. Source: Ministry of Health and Family Welfare. Updated: 24 May 2020, 08:00

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Goldman Sachs forecasts ‘deeper recession’ for India

New Delhi, May 19 (IANS) Goldman Sachs has forecast a "deeper recession for India" with an estimate of real...

Mandatory 14 days quarantine guidelines for internatioal arrivals

New Delhi, May 25 (IANS) The Union Ministry for Health and Family Welfare has come up with guidelines for international arrivals into India through...

71% prefer domestic travel, only 1.4% wish to go abroad

New Delhi, May 25 (IANS) A survey by the Confederation of Indian Industry (CII) has shown that around 71 per cent people in the...

Retail trade lost Rs 9 lakh cr of business in 60 days: CAIT

New Delhi, May 25 (IANS) India''s retail trade lost business of around Rs 9 lakh crore during the past 60 days of the nationwide...

Television actors battle to survive lockdown blues

New Delhi, May 25 (IANS) As the television industry remains paralysed by lockdown, many actors and workers are scared. Non-payment of dues by many...

More Articles Like This