Government calls for input on onshore gas exploration in India - Brno Líšeň

Government calls for input on onshore gas exploration in India

SENDAI: The World Bank, the India government and several private companies from across the sector are gathering inputs on how to tackle a sharp decl우리카지노ine in foreign investment in the country’s oil and gas sector as the oil price falls and the industry faces a potential slowdown in the oil sector.Oil and gas companies in the country have faced pressure from investors for the past two years due to steep falls in demand and low oil prices.While some companies were keen to expand operations and increase production to counter the slump, the sector has been in a tizzy since the current low, which saw the dec우리카지노line in production reaching 11 per cent for the first time in the last decade, which prompted major international oil companies to cut back investments.However, the global companies, which now have around $3 trillion worth of oil and gas assets in India, say it is imperative that Indian firms find new markets for their assets, and not to continue drilling in their own backyard.The World Bank has issued a report to help companies find new markets to invest in and is working towards identifying ways to facilitate investment from all sectors of the economy.The report also includes recommendations for industry to move away from expensive and ineffective technologies for crude oil production. The report says India has the potential to be a major oil exporter and export market, but companies need to identify ways to invest in new markets to boost productivity, competitiveness and to reduce costs.“There is clear lack of information about how to handle a sharp fall in oil prices and how to address risks from the declining oil prices, such as depletion, spills, accidents, and increased risk of climate change. In addition, there are concerns that India’s oil sector will not be able to develop in time for a strong rebound in the oil price, due to its reliance on imported crude and oil exports, the weak rupee and ongoing political uncertainties. While the report highlights the need for more cooperation from the industry and international organisations, we recommend that international participation in industry should not result in a return to dependence on domestic production,“ said the IMF’s chief economist in India, Raghuram Rajan, in a statement.Besides the IMF, the World Bank, India’s Ministry of Commerce and Industry, IGI Securities India Ltd, a major oil company in the sector said it would gather input from stakeholders on how to accelerate exploration, development and production across the country.“We are confident that the industry will find appropriate venues for exploration to further boost productivity and competitiveness and thus support the growth of the oil and gas industry,

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