With the 11-year low oil price forcing oil and gas producers to cut spending, Prime Minister Narendra Modi on Tuesday brainstormed with global experts on ways to attract investments and raise domestic
With the 11-year low oil price forcing oil and gas producers to cut spending, Prime Minister Narendra Modi on Tuesday brainstormed with global experts on ways to attract investments and raise domestic production.
Mr Modi, in a two-hour long meeting with expe-rts including BP Group chief executive Bob Du-dley and International Energy Agency (IEA) Executive Director Fatih Birol, discussed steps needed to give fillip to domestic oil and gas sector where no major discovery has been brought to production in the last five years.
The underlying theme was how to attract investment in oil and gas exploration and production (E&P) and raise domestic production, sources privy to the deliberations said.
The experts, who also included Royal Dutch Shell director (projects & technology) Harry Brekelmans and Pulitzer award- winning American author Daniel Yergin, detailed regulatory faultlines as well as need for steps like freeing of natural gas prices to boost domestic investments.
