India Welcomes US Oil Policy Shift, Explores Partnership with Argentina's YPF

India's Oil Minister has welcomed former US President Donald Trump's announcement on lifting the ban on oil drilling, viewing it as a positive development for global energy markets. The minister stated that this move could potentially increase global oil supply and help stabilize prices.In a separate but significant development, Indian oil companies are expected to sign an initial agreement with Argentina's state-owned YPF today. This memorandum of understanding aims to explore potential partnerships in oil and gas exploration and production. The collaboration aligns with India's strategy to secure diverse energy sources and leverage its growing expertise in the sector.These developments underscore India's proactive approach in strengthening its position in the global energy landscape, both through diplomatic channels and strategic international partnerships.

Source: Indian Ministry of Petroleum and Natural Gas