Oil, gas sector reforms on track: Petroleum Secretary

Addressing an energy security conference here on Wednesday, Petroleum and Natural Gas Secretary Vivek Rae said reforms related to the country's oil and natural gas sectors were on track, and rejected suggestions of their being a policy paralysis on the part of the UPA-II Government.

Calling for greater and improved collaboration between the petroleum, renewable energy and power sectors to fulfill country's growing energy needs, Rae placed emphasis on research and development in renewables and on developing links between companies and academic institutions.

Oil companies, he said, required to be integrated and to adopt global best practices. He also referred to the huge shortage of skilled human resources and the lack of database in this field.

Cautious optimism was aired over the potential of shale gas and coal bed methane.

External Affairs Ministry Joint Secretary Prabhat Kumar said India will surpass China in terms of energy demand by 2020.

He called for developing various energy resources by attracting global investment.