74036
India Wants $300b in Energy Investment
India Wants $300b in Energy Investment

India Wants $300b in Energy Investment

India Wants $300b in Energy Investment

India wants to attract foreign investments for $300 billion of energy projects planned for the next decade, its oil minister said, as the world’s third biggest oil consumer aims to cut imports. India ships in about 80% of its oil needs, which Prime Minister Narendra Modi wants to reduce to 67% by 2020. The planned projects will increase the country’s refining capacity, oil and gas block exploration and development of gas infrastructure, including for transporting LNG and re-gasification, Reuters reported. “In the next 10 years, India will offer projects worth $300 billion” to foreign companies keen to invest in the country, Indian Oil Minister Dharmendra Pradhan told an energy conference in New Delhi. India’s oil and gas output has been stagnant for years while its fuel demand has risen with economic expansion, hitting federal finances with an import bill worth billions of dollars. Modi’s government has been taking steps to unlock the country’s vast energy reserves and boost foreign investment in the sector by relaxing rules, including on pricing and marketing.

 

Short URL : https://goo.gl/grBJY9
  1. https://goo.gl/AkwN5U
  • https://goo.gl/fr7cU4
  • https://goo.gl/XhUASz
  • https://goo.gl/QXrJC5
  • https://goo.gl/mJtWt5

You can also read ...

Philippines Struggles to Embrace Renewable Energy
Renewable energy costs are falling across the world, but the...
OPEC Not Rushing to Boost Production
OPEC is not in a rush to start winding down the production...
India to Keep Fuel Prices in Check
India is looking at ways to keep rising fuel prices in check,...
Iran's electricity industry ranks 14th in the world in terms of output.
Driven by its vast potential in the electricity industry, Iran...
Oil Prices Rise as China, US Put Trade War on Hold
Oil prices rose on Monday as markets reacted to news that...
Shourijeh Gas Storage Capacity to Reach 4.5 bcm
Shourijeh natural gas storage facility in the northeastern...
Changing Working Hours  Could Help Save Electricity
Changing working hours in state organizations during peak...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus