The 4th edition of India Africa Hydrocarbons Conference (IAHC) has begun in New Delhi. 2 day conference aims at enhancing greater co-operation between India & African continent in the field of Hydrocarbons. It also seeks to explore opportunities, bridge boundaries and boost bilateral trade between India & Africa.
Fourth India Africa Hydrocarbons Conference:
- 22 African nations have participated of which nine are represented by their Ministers. These nine countries are Morocco, Algeria, Liberia, Mauritius, South Sudan, Sudan, Tunisia, Equatorial Guinea & Senegal.
- Provide a global forum and common platform to African Countries to share their vision and chart out the road map for extended energy co-operation.
- Bring together African leaders in and also CEOs from India and abroad to exchange expert insights and develop strategies for enhancing energy co-operation.
India and Africa Relations for Energy Security:
- India – African nations have common colonial past and enjoyed political and cultural ties. However, energy security stands as one of the major focus area of the bilateral ties.
- Presently, India is importing close to 75% of its crude oil and is seeking to diversifying import basket to meet its energy requirements.
- Oil imports from Africa play a significant role in meeting the demands of India. In June 2015, Nigeria had stood as the 2nd largest supplier of oil to India.
- Though Africa has huge hydrocarbon resources, it lacks capital, technology & ability, experience and manpower to exploit these resources for future growth.
- This can serve as the catalyst to encourage proper co-operation in the hydrocarbon energy sector as India can provide investment capital for development needs of African countries.
Fourth India Africa Hydrocarbons Conference begins in New Delhi
