Need to hike localisation in oil & gas: Petroleum secretary Tarun Kapoor


Kapoor gave the example of gas meters and said there was currently not enough capacity in the country to manufacture them

Topics


oil & gas  | oil sector | Petroleum Ministry


Twesh Mishra  | 
New Delhi 


petroleum exploration

There is a need to increase localisation of products that are being used in the oil and gas sector, Petroleum Secr­etary Tarun Kapoor said.

“We are looking at a large number of products that are being imported. We want them to be made in India. We have asked Engineers India to work on vendor development. The government sector alone in the oil industry has a capital expenditure of over ~1 trillion a year, there is operating expenditure also. And the private sector is spending too. In all, around ~1.5 trillion to ~2 trillion is spent by this sector annually,” Kapoor said, addressing the Energy Startup Summit 2021 organised by Tata Mo­tors and Repos Energy on Monday.

Kapoor gave the example of gas meters and said there was currently not enough capacity in the country to manufacture them.

Speaking earlier at the event, NITI Aayog Chief Executive Amitabh Kant said: “There is focus on new technologies like solid state batteries and direct solar wafers which are the future. The world is on the cusp of a mobility revolution, which is going to be shared, connected and zero emission.”

Kant said rapid technological evolution was driving the transportation revolution in the world.”



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.


We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, January 11 2021. 23:47 IST

Read More

Spread the love
Nicholas ‘Nick’ Statman entered the property industry in 2001 and set up a property buying company that quickly established itself as one of the biggest in the sector. During this time the Company successfully transacted on thousands of residential properties across the UK. Nicholas Statman was an early pioneer of the ‘quick sale’ niche market which has since grown considerably with a multitude of companies now operating in the sector. Nicholas Statman has strategically built a sizeable residential and commercial property portfolio with a view to holding for optimum capital growth and a long term passive income. Nicholas Statman has been involved in almost every aspect of the property sector over a 20 year period – this includes buying and selling, development, letting and management and is now involved in the fast growing online/ hybrid Estate Agent industry.

Latest articles

Ninja Theory’s Project: Mara Is Set in a Single,...

Ninja Theory's other spooky game is utilizing some ridiculous technology to bring a single apartment to life, down to the dust under the fridge.

Norway Warns Against Vaccinating the Terminally Ill

The Norwegian drug agency on Monday warned medical authorities in the country not to administer the Covid-19 vaccine to terminally-ill patients because a small number of elderly people had died shortly after receiving the shot in recent days. Norway is unrolling the vaccine developed by BioNTech SE and Pfizer Inc., and authorities have reported 23…

Navalny Urges Protests Against His Detention in Russia

MOSCOW—Russian opposition leader Alexei Navalny urged supporters to take to the streets as he was ordered to be held in pretrial custody for 30 days, while Russia’s foreign ministry warned Western countries not to interfere in a case that is already worsening tensions with the U.S. and Europe.Mr. Navalny was brought before a judge Monday,…

Saudi Arabia Curbs Death Penalty in Move to Soften...

RIYADH, Saudi Arabia—Saudi Arabia said Monday it had imposed a moratorium on capital punishment for drug-related offenses that led to an 85% reduction in executions, as the conservative Muslim kingdom seeks to soften its image to attract Western tourists and foreign investment. The state-backed Human Rights Commission said 27 executions were recorded in 2020. That is…

Similar articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Subscribe to our newsletter

Spread the love