Page 41 - Policy Economic Report - December 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Where any member is a foreign company as defined in the Companies Act, a neutral seat of arbitration
may be opted for.

Rules require NOCs to promptly notify all existing and new discoveries, submit field development plans
within prescribed time limits, obtain central government approval for development areas, and regularly
report development and production activities.

Vedanta Group chairman Anil Agarwal said, "Notifying the landmark reforms to India's oil and gas
regulatory framework" is "a truly historic development".

"The world has long recognised India's vast untapped hydrocarbon potential, and these new rules finally
create the environment needed to unlock it," he said.

"India produces some of the most affordable oil and gas globally. These reforms will directly benefit
consumers - especially the poorest - by enabling greater domestic production and reducing dependence
on imports."

He said this is the kind of bold, inclusive policy that transformed the United States from a major importer
into an energy surplus nation.

"I never imagined I would witness such a reform in my lifetime. Our energy security is both our greatest
challenge and our greatest opportunity. With these changes, I am confident that India can produce at
least 50 per cent of its energy domestically."

Energy retail outlets double to over 1 lakh by 2025: Hardeep Singh Puri

The number of petrol pumps and gas stations in India has almost doubled over the last decade, rising from
51,870 retail outlets in 2014 to more than one lakh by 2025, Union Minister for Petroleum and Natural
Gas Hardeep Singh Puri.

The minister shared the information on social media platform X after a meeting of the Consultative
Committee of Members of Parliament of the Ministry of Petroleum and Natural Gas, which discussed
diversification and energy transition.

Highlighting the transformation of India’s energy sector over the past ten years, Puri said the country has
witnessed significant improvements in infrastructure, diversification of energy sources, and a steady shift
towards cleaner energy. Under the leadership of Prime Minister Narendra Modi, he added, the sector has
become more resilient and future-ready.

Puri also noted that the number of LPG distributors has increased by 127 per cent, while city gas
distribution networks have expanded to cover the entire mainland of the country, bringing piped natural
gas to households across regions.

“India today stands proud as the fourth-largest refiner globally, with natural gas pipeline length increasing
to 25,429 kilometres and LNG capacity more than doubling to 52.7 million metric tonnes per annum,” the
minister said, adding that these measures are crucial to ensuring energy security for the nation.

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