Monetize reserves or government will sell them: Dharmendra Pradhan to state-run oil companies
Union Petroleum and Natural Gas Minister Dharmendra Pradhan has directed public sector oil and gas companies to monetise stranded energy reserves and discoveries, adding that if they are unable to do so, the government will step in and sell them. Will give
Speaking at the BNEF summit, the minister stressed that state-run energy companies should enter into joint ventures or develop new business models to monetize stranded assets.
He said that the Center has created a dynamic business environment in India to attract more investment technology for a safer energy future for India.
Pradhan was of the view that since India is a net importer of oil, public sector companies like OIL and ONGC cannot sit on the reserves.
“We have given policy guidance to state-owned companies, either you through new partners, new business models or after a particular period the government will intervene, and using its authority, it will bid to market that resource. , ” he told.
With regard to the disinvestment of BPCL, he expressed confidence in completing the privatization within the extended time frame and said: “It is fully on track and we will complete our strategy in due course.”
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