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India may see the Biggest invest in Oil and Gas in next 8-10 years
New Delhi: India may see the biggest investment in the Oil and natural gas sector around $206 billion during the next 8 to 10 years. The meeting of Prime Minister with top global executives on CERAWeek at India Energy Forum is expected to be in the talks of the further entice companies to promote a cor a self-reliant India.
This kind of meeting generally happens for such a large investment, This includes investments to the tune of $67 billion in gas infrastructure -- LNG capacity increase, pipelines, and CGD networks. Global players like Total, Exxon Mobil, and Shell have shown their interests in this field” said a government official. He indicated that put together Reliance-BP, ONGC, and Oil India, exploration and production scenario would see an investment of around $59 billion. On the other hand, downstream segments, including marketing, refinery expansions, and new refinery plans like Vizag, Barmer, Paradip, and Ratnagiri may see another $80 billion investments too in the sector.
This three-day forum includes the participation from US Secretary of Energy Dan Brouillette, Minister of Energy of Saudi Arabia Prince Abdulaziz, and CEO of Abu Dhabi National Oil Company Sultan Ahmed Al Jaber.
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