New Delhi, June 23 -- India's national oil companies need to step up acquisitions of overseas oil and gas assets to strengthen the country's long-term energy security amid rising demand and a widening gap between domestic production and consumption, according to Nick Sharma, Executive Director, Upstream Energy at S&P Global.

Speaking to ANI on Tuesday, Sharma said recent geopolitical developments have once again highlighted the importance of securing energy resources beyond domestic borders.

He noted that India faces a growing imbalance on the upstream energy side and said the country needs a two-pronged strategy of attracting more investment into domestic exploration while also expanding the international presence of its state-owned oi...