Wednesday, March 20, 2013

FDI IN OIL & NATURAL GAS PROJECT WILL BE UNDER AUTOMATIC ROUTE

Foreign Investment in Oil And Natural Gas Projects


 
As per extant Foreign Direct Investment (FDI) policy, FDI, up to 100%, is permitted, under the automatic route, for exploration activities of oil and natural gas fields, infrastructure related to marketing of petroleum products and natural gas, marketing of natural gas and petroleum products, petroleum product pipelines, natural gas/pipelines, LNG regasification infrastructure, market study and formulation and petroleum refining in the private sector, subject to the existing sectoral policy and regulatory framework in the oil marketing sector and the policy of the Government on private participation in exploration of oil and the discovered fields of national oil companies.

Extant FDI policy, therefore, does not envisage Government approval for bringing FDI into companies carrying on these activities.

2 comments:

  1. I think Investment consultant
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  2. Dear Sir,

    It is a welcome move. Also industries into biomass power sector should also allowed to acquire land under Automatic Route to grow their raw meterials, i.e BioMass. Currently they are not in a position to grow biomass plantations as plantation activity is under prohibited sector.

    Vivek Hegde

    ReplyDelete