With international crude oil prices hovering around $100 a barrel owing to the Ukraine crisis, Vedanta’s Cairn Oil and Gas batted for import parity pricing on crude oil to boost domestic production. Cairn Oil and Gas is India’s largest private exploration and production company.
It also pushed for a relook of the enhanced oil recovery (EoR) policy by bringing down levies to 40 per cent from the current 70 per cent.
“Any country, which is importing 85 per cent crude oil, should increase its domestic production. Our request is to have marketing freedom or import parity pricing. Domestic producers should get the same price as importers so that there is more level-playing field,” said Prachur Sah, deputy chief executive officer (deputy CEO), heading the Cairn Oil and Gas.
