EIN News says, "India to Get 25% in Kazakh Oilfield India will mark another milestone in its energy security journey when it signs an agreement sometime this week to secure a 25% stake in the Satpayev oil field on the Caspian Sea. With its huge dependence on oil imports, India has been seeking stakes in overseas oil blocks to secure energy supplies. (hindustantimes.com)".
Kazakhstan is the ninth largest country in the world. It is located between Russia to the north and Iran to the south.
With India's purchase of a 25% interest in the Satpayev oilfield, it is implied that production is occurring or is imminent. India likely expects to draw oil from the region and make it available to Indian citizens.
Do we have an analogy with US oil?
India must buy a stake in a foreign country and is quite likely to obtain oil.
The US has its own intercontinental oil reserves, but it's government is unwilling to allow that oil to be supplied to its citizens in the desired quantities.
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