Macquarie Infrastructure and Real Assets (MIRA) said if India’s government decides to start selling off its noncore oil and gas assets, the firm is prepared to capitalize on it, Bloomberg reports.
MIRA believes India could feel pressure to dispose of such assets, in light of the record declines in oil prices amid the global coronavirus pandemic.
“There is a fair bit of opportunity for the government to divest noncore oil and gas assets, like oil storage facilities, pipelines, transmission facilities,” said Suresh Goyal, who heads MIRA in India and Southeast Asia. “With our investment platforms, local teams, we are well placed on capitalizing this opportunity.”
According to Mint, India, which is in the midst of an economic slowdown, imported 1.45 billion barrels of oil in 2019. Oil prices in the country have fallen from more than $100 per barrel in 2014 to $60 per barrel as of 2020.
However, the country’s prime minister Narend
