Press release from Ministry of Petroleum & Natural
Gas, GOI states that,
"...committed to deal with the energy security
issues... gas pricing formula effective 01-04-2014 was recently revised...
This...will boost investors’ sentiments in the sector...exploration is expected
to be greatly encouraged by implementation of forward-looking Rangarajan
Committee recommendations.
"...taken a number of measures to boost investment
and accelerate exploration work... CBM Policy and Shale Gas Policy are being
finalised while work on setting up National Data Repository (NDR) has also
commenced" - Dr Moily
"...Petroleum Secretary Shri Vivek Rae called for
faster decision making."
Do you really believe pricing is the only problem? Will
all glitches evaporate if we increase the pricing? I don't believe. We need to
have more stable and forward looking legal framework and regulatory mechanism
in oil and gas sector. It should not be something which takes different forms in
every other fortnight or whenever GOI get a court notice. If India has Oil
& Gas deposits, foreign companies may be ready to invest; without a stable
mechanism all will sit in the fence only.
No comments:
Post a Comment