 "Budget 2023-24 wishlist: Here are the key challenges in oil & gas sector")
Key challenges
- Policy stability on transport fuel pricing
- GST on petroleum products and gas: Exclusion leading to depriving of benefits of classical GST regime and increasing administrative burden
- Ability of E&P concessions to attract large and experienced investors
- Emergence of renewable fuels causing displacement of petroleum fuels’ demand
- Investment to supply PNG and LPG to domestic consumers may go obsolete in the near-term due to the proposal to electrify homes
Industry ask
- Support SMEs to develop infrastructure for molecules like hydrogen, ethanol, biodiesel, biomass, and biogas
- Consumers demand aggregators tying up with cheaper LNG/gas sources
- Oil companies and fossil fuel-dependent industries seek clarity on emerging carbon credit policies to plan their future investments
- Development of large petrochemicals and chemicals zones for investors to avoid hunting for land, utilities, and supply chains
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →Subscribe to Business Standard digital and get complimentary access to The New York Times
Quarterly Starter
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
Save 46%
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%