Latest news with #Petroleum&NaturalGas
India Gazette
08-07-2025
- Business
- India Gazette
Explorations in India is now
ANI 08 Jul 2025, 18:33 GMT+10 New Delhi [India], July 8 (ANI): Union Minister Hardeep Puri on Tuesday highlighted Central Government's series of sweeping policy reforms under the leadership of Prime Minister Narendra Modi to accelerate oil & gas exploration. These reforms, aimed at promoting exploration & production in the field of oil and gas. The government believes that these changes to increase the ease of doing business for our exploration and production (E&P) operators are being made after stakeholder consultation at every minister, noted via a social media post on X that the recent amendments to the Oilfields (Regulation and Development) Act, 1948, which took place in March 2025, are a cornerstone of the new regulatory overhaul. The changes have also introduced new Petroleum & Natural Gas (PNG) rules within a short span of three months.'As a part of our focus to accelerate oil & gas exploration under the leadership of PM @narendramodi Ji, a series of pathbreaking policy reforms are being implemented to promote exploration & production. These changes to increase the ease of doing business for our E&P operators are being made after stakeholder consultation at every level.' posted Oilfields (Regulation and Development) Act, 1948 was amended in March 2025 and new PNG rules have come within 3 months in the run up to OALP Round X which is the largest such exploration & production bidding round globally,' posted by Union Minister Hardeep Puri on social media 'X'.The Ministry of Petroleum and Natural Gas (@PetroleumMin) has also invited feedback and suggestions on the Draft Petroleum & Natural Gas Rules, Model Revenue Sharing Contract (MRSC), and Petroleum Lease are given time to submit their inputs by July 17, 2025, via email to [email protected] Puri emphasized the timing and importance of these reforms, calling it a 'great time' for industry leaders and entrepreneurs to consider opportunities in India's oil and gas sector. He added that exploration in India is now 'easier, faster, and more profitable than ever before.' (ANI)
Time of India
08-07-2025
- Business
- Time of India
Explorations in India is now "easier, faster, and more profitable than ever before": Hardeep Puri
Union Minister Hardeep Puri on Tuesday highlighted Central Government's series of sweeping policy reforms under the leadership of Prime Minister Narendra Modi to accelerate oil & gas exploration. These reforms, aimed at promoting exploration & production in the field of oil and gas. The government believes that these changes to increase the ease of doing business for our exploration and production (E&P) operators are being made after stakeholder consultation at every level. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Sharp Design, Smoother Drives. Toyota Glanza Learn More Undo The minister, noted via a social media post on X that the recent amendments to the Oilfields (Regulation and Development) Act, 1948, which took place in March 2025, are a cornerstone of the new regulatory overhaul. The changes have also introduced new Petroleum & Natural Gas (PNG) rules within a short span of three months. "As a part of our focus to accelerate oil & gas exploration under the leadership of PM @narendramodi Ji, a series of pathbreaking policy reforms are being implemented to promote exploration & production. These changes to increase the ease of doing business for our E&P operators are being made after stakeholder consultation at every level." posted Puri. Live Events The Oilfields (Regulation and Development) Act, 1948 was amended in March 2025 and new PNG rules have come within 3 months in the run up to OALP Round X which is the largest such exploration & production bidding round globally," posted by Union Minister Hardeep Puri on social media 'X'. The Ministry of Petroleum and Natural Gas (@PetroleumMin) has also invited feedback and suggestions on the Draft Petroleum & Natural Gas Rules, Model Revenue Sharing Contract (MRSC), and Petroleum Lease framework. Stakeholders are given time to submit their inputs by July 17, 2025, via email to png-rules@ Minister Puri emphasized the timing and importance of these reforms, calling it a "great time" for industry leaders and entrepreneurs to consider opportunities in India's oil and gas sector. He added that exploration in India is now "easier, faster, and more profitable than ever before."
Business Standard
02-07-2025
- Business
- Business Standard
India's GDP has more than doubled in last decade, FDI inflows jumped 1.43%
In the past eleven years, India has risen from the eleventh to the fourth largest economy in the world. Our GDP has more than doubled-from USD 2.1 trillion in 2014 to USD 4.3 trillion in 2025 noted Hardeep Singh Puri, Minister of Petroleum & Natural Gas. We have recently overtaken Japan and are poised to become the third-largest economy by 2030, overtaking Germany, the Minister remarked, highlighting the nation's resilience during global headwinds and the critical role played by bold policy reforms, extensive social welfare schemes, and sound financial management. The Minister emphasized India's success in attracting global investment, with USD 748 billion of foreign direct investment inflows between 2014 and 2025-an increase of 143% over the previous decade-and the expansion of source countries from 89 to 112. Landmarks in policy reform, including the Insolvency and Bankruptcy Code, Production-Linked Incentive schemes, the Goods and Services Tax, Direct Benefit Transfers, and the elimination of over 25,000 compliances and 1,400 obsolete laws, have strengthened the nation's business landscape. The transformation in tax administration underscores India's evolving financial culture: annual Income Tax Returns filed grew from 3.6 crore in FY 2013-14 to 8.5 crore in FY 2024-25, with 95% processed within 30 days. He further stated that India's banking sector has also witnessed a historic turnaround, with gross non-performing assets of Scheduled Commercial Banks dropping from 14.58% in FY 2017-18 to below 3% in FY 2024-25. The digital economy's backbone, the Unified Payments Interface (UPI), now handles nearly 50% of real-time digital transactions globally, serving over 500 million active users. Fintech adoption stands at 87%, compared to the 67% global average, facilitated by India's universal digital identity and access through Aadhaar and mobile services.
