'India looking to acquire oil assets abroad'

India is looking to buy oil assets abroad, the country`s oil minister said on Friday, adding he was seeing increased engagement in the Latin American region.

Mumbai: India is looking to buy oil assets abroad, the country`s oil minister said on Friday, adding he was seeing increased engagement in the Latin American region.

Minister Dharmendra Pradhan did not elaborate.

India is the world`s fourth-biggest oil consumer, importing four-fifths of its needs as its own output shrinks.

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