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
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