anant1a
New member
What India's petroleum sector achieved in 2007
The year 2007 witnessed a number of significant initiatives by the Government across the entire value chain of hydrocarbon sector to accelerate domestic production of oil and gas, putting in place an investor-friendly policy regime for the rapid growth of investment and oil sector infrastructure, promoting biggest FDI in refinery sector, protecting consumers of sensitive petroleum products against global price rise, encouraging technological capacity building by setting up an institute of national importance, etc.
Describing the year as momentous, Shri Murli Deora, Minister of Petroleum & Natural Gas said, “2007 has been a significant year in terms of accelerating exploration efforts in India, new oil & gas finds, acquiring E&P assets abroad, building oil sector infrastructure, ensuring sale of quality products, etc.”
HIGHLIGHTS
Year ends with biggest offer of 57 blocks (nelp-vii); a record number of 52 awarded in March (nelp-vi)
Major step forward to speed up gas production from biggest gas discovery in k-g basin
Number of overseas initiatives for securing e&p assets
First ever ministerial indo-afro hydrocarbon conference in November
Gas pipeline accorded infrastructure status
Largest FDI to boost implementation of Bhatinda refinery by Mittal-HPCL JV
Petrol diesel prices cut in February 2007 to pass on benefit of fall in global prices to consumers
Consumers insulated from further hike despite subsequent spurt in global crude oil prices
Ethanol blended petrol programme kick starts
South Asia’s first underground LPG cavern commissioned
Go ahead to oil India for making initial public offer
Implementation of Assam gas cracker project - pm laid foundation stone in April 2007
Rajiv Gandhi institute of petroleum technology bill passed
Downstream regulatory board in place
Vigorous drive against fuels adulteration
The year 2007 witnessed a number of significant initiatives by the Government across the entire value chain of hydrocarbon sector to accelerate domestic production of oil and gas, putting in place an investor-friendly policy regime for the rapid growth of investment and oil sector infrastructure, promoting biggest FDI in refinery sector, protecting consumers of sensitive petroleum products against global price rise, encouraging technological capacity building by setting up an institute of national importance, etc.
Describing the year as momentous, Shri Murli Deora, Minister of Petroleum & Natural Gas said, “2007 has been a significant year in terms of accelerating exploration efforts in India, new oil & gas finds, acquiring E&P assets abroad, building oil sector infrastructure, ensuring sale of quality products, etc.”
HIGHLIGHTS
Year ends with biggest offer of 57 blocks (nelp-vii); a record number of 52 awarded in March (nelp-vi)
Major step forward to speed up gas production from biggest gas discovery in k-g basin
Number of overseas initiatives for securing e&p assets
First ever ministerial indo-afro hydrocarbon conference in November
Gas pipeline accorded infrastructure status
Largest FDI to boost implementation of Bhatinda refinery by Mittal-HPCL JV
Petrol diesel prices cut in February 2007 to pass on benefit of fall in global prices to consumers
Consumers insulated from further hike despite subsequent spurt in global crude oil prices
Ethanol blended petrol programme kick starts
South Asia’s first underground LPG cavern commissioned
Go ahead to oil India for making initial public offer
Implementation of Assam gas cracker project - pm laid foundation stone in April 2007
Rajiv Gandhi institute of petroleum technology bill passed
Downstream regulatory board in place
Vigorous drive against fuels adulteration