Sanjay Sinha optimistic on oil & gas space

Sanjay Sinha of Citrus Advisors told CNBC-TV18, "I had this point of view that there would be pressure on the oil and gas in the short-term given the governments greed to accumulate revenue from the oil and gas companies. However, if you go back and see as to what the NDA government did the last time there were in power. The administered pricing mechanism was dismantled by them. Therefore I believe that as their underline policy philosophy goes they would surely be far more aggressive in terms of dismantling all this structural abnormalities that are there in the pricing of petroleum products."

"Add to that is the fact that they need to arise capital by way of disinvestment and the biggest disinvestment can happen from the oil and gas space. So in short-term while there may be temptations for a government to take away cream from the oil and gas companies. On the medium to the long-term the clarity in the sector and the crude price now becoming more favourable for the subsidy bearing companies, we can be more optimistic on the oil and gas space," he added.