India & China to bid jointly for overseas energy assets

In an attempt to secure long-term energy supply for their fast-growing economies, India and China on Thursday agreed to greater cooperation while bidding for oil & gas assets abroad.
Petroleum Minister Mani Shankar Aiyar said that the two countries, in dire need of meeting growing demand for energy, could help keep energy costs down by avoiding making rival bids.
"Both China and India recognize that unbridled rivalry only results in the seller of the assets being benefited", Aiyar told reporters in Beijing yesterday. "We will see through practical experience the advantages of going together rather than going separately".

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