India reforms energy policies to boost oil and gas investment, aiming to cut oil imports.

India has updated its energy policies to attract more investment in oil and gas exploration, including shale and coal bed methane. The country has eliminated a windfall tax on domestic crude oil and aims to make the sector more appealing to foreign and private investors. These changes, including longer lease periods and arbitration rights, are part of efforts to reduce India's reliance on oil imports, which currently account for over 80% of its crude oil needs.

December 09, 2024
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