Venezuela, India to start heavy oil exploration project

The BRIC Alliance (Brazil, Russian, India, China, +Venezuela, possibly +Iran) seems to be coming along nicely.

indiadaily.com :

Venezuela and India would start a pilot project on heavy oil exploration in Rajasthan in August ... as per the initial estimates, there were about 14.60 million tonnes of heavy oil reserves and 33.2 million tones of bitumen.

[Petroleum minister Mani Shankar] Aiyar announced that India and Russia would also work on the underground coal gasification for the states of Gujarat and Rajasthan, and Tamil Nadu as there were huge deposits of lignite and coal-based mines in the country ...

Aiyar also expressed concerns over decreasing oil sufficiency in the country from 50 to 30 per cent and said oil dependence on imports has risen to 85 per cent.

(2005-04-21 10:33:30 SGT) [Energy] Permalink

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