India–Africa Oil Partnership in the New Millennium

Abstract

The nature of relationship between India–Africa has been simultaneously asymmetric as well as complementary. It is reflected in Indo-African oil relationship. In this oil relationship, India and Africa gain and loose at different period of time depending on the global oil prices. Higher oil prices put India at a disadvantageous position, whereas lower oil prices are not beneficial for oil producing and exporting states of Africa. Over the years, India has built oil ties, among others, with Nigeria, Sudan, South Sudan and Angola. By and large, Indo-African oil relations have witnessed a steady progress and gradual expansion in the new millennium. India’s quest for oil in Africa faces difficult challenge from China. In all likelihood, India’s rising oil demand and quest to diversify oil basket, geographically, will further strengthen the India–Africa oil relations.