Parliament panel questions why rising capex in oil & gas sector is not leading to higher production

Parliament panel questions why rising capex in oil & gas sector is not leading to higher production

A parliamentary committee is increasingly scrutinizing whether the surge in oil and gas investments actually translates to higher domestic output. With a notable rise in capital expenditure, projections indicate a decline in crude oil production. The committee demands a comprehensive report detailing potential production benefits stemming from reforms, stressing the urgency of establishing clear performance metrics and accountability for these i…

Parliament Panel Questions Rising Oil & Gas Capex Amid Falling Output

A Parliament panel has questioned rising oil and gas capex as crude production continues falling. The Committee on Public Undertakings raised the concern in Parliament on Thursday. It asked the Petroleum Ministry to explain why higher spending has not increased domestic output. The panel also wants clear results from new exploration blocks and major projects.Oil and gas capex by public sector companies rose from Rs. 1.3 lakh crore to Rs. 1.7 lak…

Reversing the decline in oil production is high on our agenda - Energy Minister

Dr Jinapor said that the government is pursuing a number of policy, regulatory and infrastructure interventions.