Read the latest India in Transition (IiT) publication “India’s King of Crude Troubled by Oil Investments in Africa” written by Luke Patey, the author of The New Kings of Crude: China, India, and the Global Struggle for Oil in Sudan and South Sudan. He writes about India’s international oil projects through the nationalized ONGC Videsh Ltd. (OVL) in Sudan and how they have been hurt by instability in the region as South Sudan separated in July 2011. He argues that India’s “unorthodox approach and tactic of investing in oil producing countries with little western competition ended up working” until the situation began to collapse in the region. He further explains the Indian government’s failure to invest in diplomatic engagement with the region:“New Delhi has been helpful in assisting OVL and other Indian national oil companies enter new markets overseas, but what remains lacking is the Indian government’s ability to ensure the sustainability of such investments in the face of political upheaval. India needs to actively shape incentives and support stability in overseas countries where its companies are invested prior to the outbreak of conflict or political change.”
Read the full analysis here.
Contact or follow Luke at @LukePatey