India and oil security

India is jumping into the race to secure oil supplies. Cf. India Daily piece from January 16:

India is on a big spree of buying oil and Gas assets all over the world. From Ecuador to UK to Myanmar, India is in the process of buying whatever assets it can get hold of.
Ecuador's energy minister said on Saturday he wanted India's Oil and Natural Gas Corp (ONGC) and Canada's EnCana Corp to speed up negotiations for the sale of Ecuadorian oil and gas assets. ONGC has bid for EnCana's oil and gas assets in Ecuador as a part of its bid to acquire stakes in petroleum projects abroad to meet the energy needs of India's rapidly growing economy.

Recently, ONGC has been pricing PetroKazakhstan.

Oil and Natural Gas Corp. (ONGC) has held initial talks to acquire PetroKazakhstan Inc., a Canadian firm with operations in central Asia, an official at the Indian company said.
State-run ONGC is also negotiating stakes in two Caspian oil exploration blocks in Kazakhstan, he said...
Indian firms, led by ONGC, have acquired stakes in oil and gas ventures in many countries including a 25 percent stake sold by Canada's Talisman Energy Inc. in Sudan's Greater Nile Project.

Coincidentally, Talisman Energy, PetroKazakhstan, and EnCana are all based in Canada.

In principle, the competition between China and India for oil assets should raise any resulting sale prices.