BUZZ-India oil stocks rise on reports ministry keen to expand energy trade with Brazil - Reuters News
23-Jan-2020 11:36:24 AM
** Indian Oil Corp IOC.NS leads gains among domestic oil companies, rises as much as 5.3% to 119.65 rupees
** India oil ministry wants state refiners such as IOC to buy oil from Brazil under annual deals, a source said on Wednesday (Full Story)
** Country wants to expand its energy trade with Brazil, the source said
** Indian oil minister Dharmendra Pradhan met Brazilian energy minister Bento Albuquerque on Wednesday, in the run-up to Brazil President Jair Bolsonaro's visit to India
** Pradhan said he also sought early monetisation of India's existing investments in Brazilian energy sector (Full Story)
** During Bolsonaro's visit, India hopes to sign agreements including a Memorandum of Understanding for cooperation in the oil and natural gas sector, a statement said on Wednesday
** India's Nifty Energy Index .NIFTYENR up 0.52%; eight of 10 components in the index trading in the black; IOC, Hindustan Petroleum Corp HPCL.NS and GAIL (India) Ltd GAIL.NS top pct gainers