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Prime Minister Highlights Need To Enhance Storage Facilities For Crude Oil

Capital Market 

Prime Minister Narendra Modi interacted with the CEOs and Experts of the global oil and gas sector yesterday. Prime Minister discussed in detail the reforms undertaken in the oil and gas sector in the last seven years, including the ones in exploration and licensing policy, gas marketing, policies on coal bed methane, coal gasification, and the recent reform in Indian Gas Exchange, adding that such reforms will continue with the goal to make India Atmanirbhar in the oil & gas sector. Talking about the oil sector, he said that the focus has shifted from revenue to production maximization.

He also spoke about the need to enhance storage facilities for crude oil. He further talked about the rapidly growing natural gas demand in the country. He also talked about the current and potential gas infrastructure development including pipelines, city gas distribution and LNG regasification terminals.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, October 21 2021. 11:40 IST
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