India Offers $300 Billion Investment Chance In Oil Sector: Dharmendra Pradhan

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(PTI)

Oil Minister Dharmendra Pradhan today said India will offer investment opportunities worth USD 300 billion in the hydrocarbon sector over next 10 years so as to keep pace with the country’s energy demand.

He also said a group of experts is being set up to advice the government on issues related to energy.  Besides, he added, a Cabinet proposal is being finalised for a gas platform for having market driven prices.

“In the next 10 years, India is offering project scope of USD 300 billion (in hydrocarbon sector) looking into our future demand,” Pradhan said in a media interaction at IndiaEnergyForum, organised by CERAWeek.

On the comments of NITI Aayog CEO Amitabh Kant about scope of USD 1 trillion investment in oil sector in the coming five year, and Saudi Aramco investing USD 300 billion in India, the minister said: “That was a miscommunication. Aramco has plan of USD 300 billion investment in their own world infrastructure.”

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