RIL for private, public sector joint bidding to secure energy supplies

Reliance Industries today advocated public and private sector firms bidding together for oil and gas fields abroad to secure energy supplies for the country.

RIL executive director PMS Prasad said China, which has been many more times successful in acquiring energy assets, coordinates aggression among its firms to have a concerted effort.

"Public and private sector companies should collaborate for overseas acquisitions," he said at an industry conference here.

Mr. Prasad said focus countries should be Iraq, Venezuela, Mexico and Middle-East.

Back home, he advocated stable and investor friendly policy regime to help increase domestic oil and gas production.