Budget impact on oil & gas sector: PwC

PriceWaterhouseCoopers (PwC) has come out with its report on oil & gas sector post budget, here's a quick snapshot.

Economic Indicators

For financial year 2008-09, overall GDP growth rate of India was 6.7% whereas fiscal deficit was 6.2%.

India is a net importer of energy with import of 75% of the crude it consumes. Furthermore, demand is expected to rise which would widen the existing gap between demand and supply. Therefore, Government of India continues to take concrete steps to ensure energy security by accomplishing self-reliance through indigenous production.

Policy Initiatives

• New Exploration Licensing Policy
• Coal Bed Methane
• Transportation of Natural Gas
• National Gas Hydrate Programme
• Petroleum and Diesel pricing policy

To read the full report click on the attachment.....