(a) whether the Government has decided to approve foreign investment in oil and gas projects
in 30 days; and
(b) if so, the details thereof along with the countries which have shown their interest after
approval of this policy;
(c) the manner in which the aforesaid measures is likely to increase production of oil and gas
in the country?
MINISTER OF STATE IN THE MINISTRY OF PETROLEUM & NATURAL GAS (SMT. LAKHSMI PANABAAKA)
(a) The present Foreign Direct Investment (FDI) policy for petroleum & natural gas sector,allows
100% automatic route for exploration activities of oil and natural gas fields, infrastructure
related to marketing of petroleum products and natural gas, pipelines, LNG regassification
infrastructure, petroleum refining in the private sector, subject to the existing sectoral
policy.
However, there is no provision, as such, for according approval in 30 days, (b) & (c) In view
of (a), does not arise.