Posted on 05/08/2006 10:05:48 PM PDT by TBP
NEW DELHI, May 8 (UPI) -- China and India have submitted a joint bid to acquire a stake in a Colombian oil venture for roughly $800 million, an Indian official said Friday.
The China Petroleum and Chemical Corp., or Sinopec, and ONGC Videsh Ltd., or OVL, the overseas arm of Indian state-run Oil and Natural Gas Corp., offered a joint bid to acquire a stake in the Ominex de Colombia -- a subsidiary of the Texas-based Ominex Resources Inc.
"Ominex de Colombia owns a 50 percent stake in oilfields in Colombia. The remaining stake is held by the Colombian national oil company -- Ecopetrol," the Indo-Asian News Service quoted an Indian official as saying.
The Colombian company has reserves around 157 million barrels of oil and gets about 9,450 barrels of oil per day. If Ominex aggress to the bid, then the offer will be approved by a committee of secretaries and the Cabinet, the official said.
Last year in December, Sinopec and OVL jointly acquired a 37 percent stake of a Canadian oil company Petro Canada in a Syrian oil field for $484 million.
All the more reason we must be aggressive in acquiring energy and in developing our own energy resources -- oil, nuclear, and whatever other sources we can develop domestically at reasonable cost.
India is a close ally of Russia, and most of the popluation in India would rather warm up to China than the US.
*yawn*
Come on Tim Phares, you can do better than that.
FYI: Tim Phares (google his name) aka TBP is a paid anti-India lobbyist. How much do they pay you to post this?
Since you seem able to talk about/for 'most' of India's population (well over a billion people) I guess you MUST have a way of backing up your statement, don't you? While you are at that please explain why in a poll of world views on the US, India was one of very few countries that viewed the US in a favorable light! Anyways, I guess all of that was wrong since, according to you, 'most of the popluation in India would rather warm up to China than the US.'
As for this bid on Colombian oil, it is solely a pragmatic venture. With their economy's frenetic pace of growth, India needs all the oil it can get. Hence it will not snub its nose at Colombian potential just because China wants to be in on the deal .....for that matter we have dealings with Saudi Arabia and several other 'allies' of ours (that have no love for the US there) for the same reason.
You have absolutely no idea what you are talking about, but that probably hasnt stopped you before. I suppose all the joint ventures the British have with Iran and China make them less of an ally? Or how about the business deals the Australians have with China?
ping
"and most of the popluation in India would rather warm up to China than the US"
Oh really? I had no idea!
Why leave out the fact that US-China business is almost 10 times larger than India-US business. And of course China is the "Most Favoured Nation" for the US.
What are Naxals, marxists, and communists then????
"Red" Indians ;-)
Or Indian "Red Staters" :-D
Ho ho ho!
1) India is and will always be a democratic ally US.
2) India decided to collaborate with China because they out bid us in all the tenders to acquire oilfields abroad. Case in point Kazakhstan. Besides when you crib that oil prices have risen, isn't it better that the Indians and the Chinese, both desperate for energy dont start a bidding war that would further increase the price of oil?
3) India fought a war with China. Indians would rather watch the US bomb the friggin Chicoms out of the face of the planet. India is in bed with China for the same reasons the Americans are. Trade, its all about the money :)
4) For paid anti-India lobbyists, well...India seems to feed you with your daily bread inspite of being anti-India. Just imagine what it would be like if you were pro-India. And reminding you of what Bush said: "Either you are with us (Indians) or you are against America.
Let's undercut the Russians and sell India weapons that acutally work.
so the whole population of India is made of Naxals, marxists and commies? oh! i didnt know that. please teach us more about our country.
They are stupid underground commies that we are fighting.. ;)
India has 1 billion population. Find out just how many of them are Naxals, Marxists and Communists. Then do the math. And then get back to me.
Here its like this:
Its perfectly alright if America sells advanced weapons to its "front-running ally" Pakistan to be used against India.
Its not ok if India buys weaponry from Russia to fight Pakistan or makes a joint trade bid with China.
Don't expect an answer from him.
China is our enemy. It has nuclear warheads pointed at this country. It has hostile intentions about Taiwan and other neighbors. As such, a joint venture with the Red Chinese places them in partnership with our enemies.
That this is taking place in the Western Hemisphere is of special concern. I suppose you don't object to the Chinese deal to drill oil off Cuba in the Gulf of Mexico (right up to the water border, which means they will likely use the position to steal some of our oil as well.)
Things like this are one of the reasons why our oil prices here are so high.
Russia is also a hostile country.
Pakistn is glove-in-hand with China.
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