The overemphasis on Electric Vehicles (EVs) by the government has the oil and gas industry in India concerned. The industry feels that the prevailing situation will lead to investors and bankers having second thoughts on making investments in the oil and gas sector.
The players under the aegis of Federation of Indian Petroleum Industry (FIPI), which represents Indian Oil Corporation, Reliance Industries, Nayara Energy, BP, ONGC to name a few, propose to take up the issue with the Ministry for Petroleum and Natural Gas.
“What happens to the investments made in projects for BS VI fuel quality, Bio-CNG and 2G ethanol bio refineries is the fear,” said an industry player.
