Indian economy is expected to grow at a higher rate of 6.7 percent in 2013-14 compared to the expectation of around 5.4 percent growth in 2012-13. Rise in economic growth leads to higher demand for crude oil. Consequently, there is good prospect for contracts in crude oil transportation business. Following are some of the contract opportunities in the sector.
Oil India is in the process of hiring a contractor for production and transportation of crude oil. It also seeks to hire the service of contractors who possesses oil tankers for transportation of crude oil from various oil field locations.
Besides, Oil And Natural Gas Corporation (ONGC) plans to engage a contractor who can provide 3 crude oil tankers on a regular basis at Ankleshwar.
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