Hydrocarbon Vision 2025 |
Hydrocarbon Vision 2025
* A ministerial group set up by the Prime Minister to give focus on long-term energy security for India has developed the following vision for the next 25 years.
* To assure energy security by achieving self-reliance through increased indigenous production and investment in equity oil abroad.
* To enhance quality of life by progressively improving product standards to ensure a cleaner and greener India .
* To develop hydrocarbon sector as a globally competitive industry which could be benchmarked against the best in the world through technology up gradation and capacity building in all facets of the industry.
* To have a free market and promote healthy competition among players and customer service.
* To ensure oil security for the country keeping in view strategic and defense considerations.
The hydrocarbon vision has been converted into prioritized action agenda for implementation in the medium and long term. In brief the main thrust of the activities would be:
* Focus on oil security through intensification of exploration efforts and achievement of 100% coverage of unexplored basins in a time bound manner to enhance domestic availability of oil and gas.
* Secure acreages in identified countries having high attractiveness for ensuring sustainable long-term supplies.
* Pursue projects to meet the deficit in demand and supply of natural gas, and facilitate availability of LNG.
* Maintain adequate levels of self sufficiency in refining (90% of consumption of middle distillates).
* Establish adequate strategic storage of crude and petroleum products in different locations. Create additional infrastructure for distribution and marketing of oil and gas.
* Open up hydrocarbon market so that there is free and fair competition between public sector enterprises, private companies and other international players.
* Create a policy framework for cleaner and greener fuels.
* Have a rational tariff and pricing policy, which would ensure the consumer getting the petroleum products at the most reasonable prices and requisite quality, eliminating adulteration.
* Announce a long-term fiscal policy to attract required investments in hydrocarbon sector.
* Restructure the oil sector PSUs with the objective of enhancing shareholder value and disinvest in a phased manner in all oil sector PSUs.
* To develop regulatory and legislative framework for providing oil/gas security for the country.
* A ministerial group set up by the Prime Minister to give focus on long-term energy security for India has developed the following vision for the next 25 years.
* To assure energy security by achieving self-reliance through increased indigenous production and investment in equity oil abroad.
* To enhance quality of life by progressively improving product standards to ensure a cleaner and greener India .
* To develop hydrocarbon sector as a globally competitive industry which could be benchmarked against the best in the world through technology up gradation and capacity building in all facets of the industry.
* To have a free market and promote healthy competition among players and customer service.
* To ensure oil security for the country keeping in view strategic and defense considerations.
The hydrocarbon vision has been converted into prioritized action agenda for implementation in the medium and long term. In brief the main thrust of the activities would be:
* Focus on oil security through intensification of exploration efforts and achievement of 100% coverage of unexplored basins in a time bound manner to enhance domestic availability of oil and gas.
* Secure acreages in identified countries having high attractiveness for ensuring sustainable long-term supplies.
* Pursue projects to meet the deficit in demand and supply of natural gas, and facilitate availability of LNG.
* Maintain adequate levels of self sufficiency in refining (90% of consumption of middle distillates).
* Establish adequate strategic storage of crude and petroleum products in different locations. Create additional infrastructure for distribution and marketing of oil and gas.
* Open up hydrocarbon market so that there is free and fair competition between public sector enterprises, private companies and other international players.
* Create a policy framework for cleaner and greener fuels.
* Have a rational tariff and pricing policy, which would ensure the consumer getting the petroleum products at the most reasonable prices and requisite quality, eliminating adulteration.
* Announce a long-term fiscal policy to attract required investments in hydrocarbon sector.
* Restructure the oil sector PSUs with the objective of enhancing shareholder value and disinvest in a phased manner in all oil sector PSUs.
* To develop regulatory and legislative framework for providing oil/gas security for the country.
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