BP's partnership with India's Reliance may widen

Press reports in India suggest BP could be about to begin exploratory work with India's biggest conglomerate - Reliance Industries - outside of India itself.The Economic Times claims frustration with the Indian government's slow regulatory system is forcing Reliance to look abroad for development opportunities. Working with BP would also be consistent with Reliance's aim of becoming a global oil major, according to the report.The two firms already work together in India after BP spent $7.2bn acquiring various stakes in Reliance's Indian operations, so further cooperation seems highly plausible.However, much of the Economic Times' article is a strategic attack on the Indian government. Reliance wants to exploit the so called "KG-D6" block more heavily but is allegedly being prevented from doing so by officials.The threat to focus abroad may give Reliance some leverage in trying to make more money at homeBS