No oil-gas field discovered since Bombay High in 1976. Supply of gas is less than half of demand, set to rise eight-fold in the next seven years. MNCs haven’t bitten exploration offers, they want a pie of crude marketing.
Subsidy on LPGis 25 per cent and on kerosene, 45 per cent; little rationalisation of customs duties, private players still rare. Target for total decontrol: March 2002
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