India to counter China through oil diplomacy

Govt approved a framework of understanding on cooperation in hydrocarbons with Bangladesh recently

India is planning to use its strength in oil refining to promote oil diplomacy with its neighbours, Nepal and Bangladesh, to counter Chinese influence. 

While state-run Indian Oil Corporation (IOC) is set to start 100 retail outlets in Nepal soon, India is now looking to expand its tie-up in Bangladesh beyond retail. India and Bangladesh have decided to explore and jointly bid for hydrocarbon assets in other countries, especially in areas like Myanmar.

India has submitted its bids to foray into petroleum retail in Myanmar, while IOC is looking at Vietnam to invest in refinery infrastructure. Currently, IOC has marketing