India Wants $300b in Energy Investment
India wants to attract foreign investments for $300 billion of energy projects planned for the next decade, its oil minister said, as the world’s third biggest oil consumer aims to cut imports.
India ships in about 80% of its oil needs, which Prime Minister Narendra Modi wants to reduce to 67% by 2020. The planned projects will increase the country’s refining capacity, oil and gas block exploration and development of gas infrastructure, including for transporting LNG and re-gasification, Reuters reported. “In the next 10 years, India will offer projects worth $300 billion” to foreign companies keen to invest in the country, Indian Oil Minister Dharmendra Pradhan told an energy conference in New Delhi. India’s oil and gas output has been stagnant for years while its fuel demand has risen with economic expansion, hitting federal finances with an import bill worth billions of dollars. Modi’s government has been taking steps to unlock the country’s vast energy reserves and boost foreign investment in the sector by relaxing rules, including on pricing and marketing.
source: Financial Tribune
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Tiny but vital metal markets rush to adjust to Chinese clampdown
Petra Diamonds cuts forecasts, jobs amid market weakness
El Salvador president proposes bill to overturn metals mining ban
China’s 2025 steel demand to fall 1.5% on year, state research institute says
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Tiny but vital metal markets rush to adjust to Chinese clampdown
Petra Diamonds cuts forecasts, jobs amid market weakness
El Salvador president proposes bill to overturn metals mining ban
China’s 2025 steel demand to fall 1.5% on year, state research institute says
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project