China-Wary Oil Majors Head To India
India, the world’s third-biggest oil consumer with a population of over 1.3 billion, offers an attractive alternative to China for big oil companies looking for a stable market to expand. Some have already indicated interest in BPCL.
The growing distress over China could see oil investors headed to India. Many nations, including the U.S. are coming together to counter what they say is China’s growing threat to global trade, security and human rights. That gives an opportunity for India to attract investments and push some of its state-run assets such as Bharat Petroleum, known as BPCL, to global investors when the world emerges from the coronavirus pandemic.