Business Standard

Budget 2023-24 wishlist: Here are the key challenges in oil & gas sector

Emergence of renewable fuels causing displacement of petroleum fuels' demand

Photo: Bloomberg
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Photo: Bloomberg

Business Standard
Key challenges
  • Policy stability on transport fuel pricing
  • GST on petroleum products and gas: Exclusion leading to depriving of benefits of classical GST regime and increasing administrative burden
  • Ability of E&P concessions to attract large and experienced investors
  • Emergence of renewable fuels causing displacement of petroleum fuels’ demand
  • Investment to supply PNG and LPG to domestic consumers may go obsolete in the near-term due to the proposal to electrify homes

Industry ask
  • Support SMEs to develop infrastructure for molecules like hydrogen, ethanol, biodiesel, biomass, and biogas
  • Consumers demand aggregators tying up with cheaper LNG/gas sources
  • Oil companies and fossil fuel-dependent industries seek clarity on emerging carbon credit policies to

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First Published: Jan 29 2023 | 11:44 PM IST

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