10 Sep Transparent Policies in India for Investment in Energy: Dharmendra Pradhan
Seeking to provide affordable energy to Indian consumers, the Government has introduced transparent policies through the deregulated market for global players to invest in refineries and petrochemical plants, Oil & Petroleum Minister Dharmendra Pradhan said during his visit to Singapore. Launching a roadshow which offers 67 discovered small oil-fields clustered into 46 contract areas for production and supply of oil and gas to the Indian market, he said that India is seeking global investors for its energy sector to create competition in the domestic market, with the main objective of providing competitively priced products to consumers.
“Consumers are the kings in India. We want to provide affordable energy to our consumers”, said Pradhan, stressing that participation by big energy players like Saudi Aramco, Shell, British Petroleum and Rosneft amongst others is important for developing and industrialising the Energy Sector in India. He was confident of attracting global investors, saying that International Energy Companies were eyeing the Indian Market with India’s ESSAR Group for participation in the Refining Sector.
“When we are talking about free and transparent policies, we have to open our market. Consciously, we have deregulated our market, and we are gradually giving price and marketing freedom to investors”, he told reporters after launching a roadshow on India’s discovered small fields.
India has introduced transparent policies through deregulated markets for international invest in refineries and petrochemical plants. This would help provide affordable energies to Indian consumers, said Pradhan. He brought a delegation of senior ministry officials and and chief executives of corporations to see how Singapore has developed the Jurong Petrochemical Complex among other energy facilities.
A delegation of senior oil ministry officials and chief executives of corporations is here to see how Singapore has developed the Jurong Petrochemical Complex. Its objectives are to develop deeper relationships with corporations here.
“Singapore and India can jointly partner for mutual growth and benefits”, Pradhan said. The roadshow offers 67 discovered small fields clustered into 46 contract areas for production and supply of oil and gas to Indian markets.
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