India’s $100 Billion Oil Exploration Opportunity

Two weeks ago, we reported that a long exploration effort has led to the reportedly massive discovery of oil and gas reserves in Pakistan’s territorial waters, a cache so large that it is said it could change the economic trajectory of the beleaguered country. Although Pakistan's hydrocarbon resources are yet to be quantified, some estimates suggest that this discovery constitutes the fourth-largest oil and gas reserves in the world. However, the oil majors appear unimpressed: in July, the country’s Petroleum Minister, Musadik Malik,…