Prime Minister Narendra Modi on Tuesday interacted with global oil and gas experts and discussed ways to increase share of gas in India’s energy mix, fresh investment in oil and gas exploration in India.
The discussions also focused on regulatory frameworks, international acquisition of oil and gas assets, emerging areas such as shale gas and coal-bed methane, and the oil and gas sector related possibilities of ‘Make in India’.
The Prime Minister emphasised his vision for a fresh look at the sector, to bring in investment, technological upgradation and development of human resource.
The meeting which lasted two hours came at a time when global crude is trading at a price lowest in the past 11 years and the oil and gas producers are cutting expenditure in such businesses in absence of profit.
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