India To Get $118 Billion Investment In Fossil Fuels In Few Years, Says Oil Minister


India To Get $118 Billion Investment In Fossil Fuels In Few Years, Says Oil Minister

India will see a massive investment of $118 billion in oil and gas exploration as well as in setting up of natural gas infrastructure in the next few years as the country prepares to meet the needs of a fast growing economy, Oil Minister Dharmendra Pradhan said on Monday.

As much as $58 billion will be invested by 2023 in oil and gas exploration and production, while, another $60 billion will be put in creation of natural gas infrastructure such as pipelines, import terminals and city gas distribution networks by 2024.

Speaking at the India Energy Forum of CERAWeek conference in New Delhi, he said India’s energy transition level is in line with global trends. Read More

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