Oil major Total SA (TOT) has more reservations about investing in downstream operations in India than it does for China because of a lack of precision in Indian regulation, Chief Executive Christophe de Margerie said Friday.

Investing in downstream operations in India could be dangerous as the country doesn't have "precise rules" relating to such activities, de Margerie said at the company's annual general meeting.

However, he also noted earlier that China has shown its willingness to dictate the level of refining margins.

For integrated oil companies like Total, downstream notably refers to refining and marketing of fuel and to petrochemicals activities.

-By Adam Mitchell, Dow Jones Newswires; +33 1 40171740; adam.mitchell@dowjones.com