INSUBCONTINENT EXCLUSIVE:
India is forming a group bringing together state and private refiners to seek better crude import dealsPrivate oil refiners are willing to
work with state-run peers to bargain collectively for better oil import deals, oil minister Hardeep Singh Puri said on Friday, as the nation
looks to cut its import bill.India is forming a group bringing together state and private refiners to seek better crude import deals,
Reuters reported on Monday."The outcome of the meeting between private and state-run (refiners on a joint oil procurement plan) was very
encouraging," Puri said in a news conference at the India Energy Forum industry event.He said the private companies are "enthused" by the
of that from Middle East producers.Private companies including Reliance Industries, operator of the world's biggest refining complex, and
capacity.With local gasoline and gasoil prices rising to record highs in India's worst power crisis for years, the nation wants to
driven by expensive imports.India has repeatedly asked the Organization of the Petroleum Exporting Countries (OPEC) and its allies, together
known as OPEC+, to boost output to bring down global oil prices."Cost of energy should not be allowed to outstrip paying capacity of
consumers and this imperative needs to be configured by the consuming countries in planning their production profile for the future," Puri
