India adopts ‘drill, baby, drill’ approach
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
While President Trump has made a strong commitment to boosting US oil production, India’s leadership has also recently taken decisive action to support its hydrocarbons sector with a regulatory framework that will encourage further investment. The shot in the arm to exploration and production in the country came by amending the Oilfields (Regulation and Development) Act, 1948, with the bill approved by the country’s upper house of parliament in December 2024. The move aims to encourage domestic production, attract foreign companies and investors to participate in E&P, and reduce India’s crude import dependence—which touched a high of 87.7% in the 2023–24 financial year, according to the
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
