Need to hike localisation in oil & gas: Petroleum secretary Tarun Kapoor
There is a need to increase localisation of products that are being used in the oil and gas sector, Petroleum Secretary Tarun Kapoor said.
“We are looking at a large number of products that are being imported. We want them to be made in India. We have asked Engineers India to work on vendor development. The government sector alone in the oil industry has a capital expenditure of over ~1 trillion a year, there is operating expenditure also. And the private sector is spending too. In all, around ~1.5 trillion to ~2 trillion is spent by this sector annually,” Kapoor said, addressing the Energy Startup Summit 2021 organised by Tata Motors and Repos Energy on Monday.
