Delay in gas price hike annoying: BP Plc
12/09/2014 10:59
Europe’s second-largest oil giant, BP Plc, said that the delay in implementation of an increase in the price of natural gas was holding back investments; it was frustrating, said the media report. “We are ready to go ahead with our first project, probably a USD 4-billion one. We are getting ready to move it forward (but) are awaiting the gas price decision. That is frustrating because it was decided last June,” said Sashi Mukundan, regional president & India head, BP at the Economist India Summit. He, however, added, “We are here for the long term, as our business is such that it goes in decades. So, we recognise we need to sit, wait and see what happens.” Mukundan said India was importing oil & gas, even as it had the resources under the ground. About USD 180 billion of imports were coming in and this might grow to USD 200-300 billion. He also said the prime minister should set up an energy advisory board where he could hear about international experiences.
12/09/2014 10:59
Europe’s second-largest oil giant, BP Plc, said that the delay in implementation of an increase in the price of natural gas was holding back investments; it was frustrating, said the media report. “We are ready to go ahead with our first project, probably a USD 4-billion one. We are getting ready to move it forward (but) are awaiting the gas price decision. That is frustrating because it was decided last June,” said Sashi Mukundan, regional president & India head, BP at the Economist India Summit. He, however, added, “We are here for the long term, as our business is such that it goes in decades. So, we recognise we need to sit, wait and see what happens.” Mukundan said India was importing oil & gas, even as it had the resources under the ground. About USD 180 billion of imports were coming in and this might grow to USD 200-300 billion. He also said the prime minister should set up an energy advisory board where he could hear about international experiences.
