Dharmendra Pradhan woos foreign firms to invest in India’s oil & gas sector

India on Monday wooed foreign companies to invest in its oil and gas sector as the world’s third-largest energy consumer is likely to see over USD 100 billion spending in energy infrastructure creation to meet rising demand. Oil Minister Dharmendra Pradhan, who is on a two-day visit to the United Arab Emirates, showcased investment opportunities, promising political and fiscal stability, predictable policies and a huge diverse market.

“Our focus is to attract global investments into the oil and gas sector, as India would invest USD 100 billion by 2024 in refining, pipelines and gas terminals,” he said at a conference in Abu Dhabi. “There is no better place to invest (than India) if you are in the business of energy.” India is expanding oil refining capacity to produce more fuel and petrochemicals as also investing in p