‘We have all of those elements’ in India, says BP CEO Meg O’Neill as firm weighs oil and gas bids under Samudra Manthan scheme
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓BP CEO Meg O’Neill said the firm is looking at oil and gas bids under India’s Samudra Manthan scheme.
- ✓The government announced this policy in July to boost energy security.
- ✓O’Neill noted, “With India, we have all of those elements,” as the company considers new exploration opportunities in the country.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 9 Minute(s)
- Market Focus
- India Economy
Synopsis
India's government has introduced the Samudra Manthan policy to enhance energy security through increased oil exploration. BP's CEO Meg O'Neill highlighted India's attractive conditions for foreign investment and exploration. This policy involves significant funding to support the development of discovered resources. BP is actively exploring current opportunities, aiming for growth and development in its portfolio. The company intends to remain independent while adapting to evolving global energy landscapes.
The Indian government’s new oil and gas policy aimed at boosting energy security has all the provisions needed to attract the biggest energy explorers such as BP Plc, which is actively looking at bidding for blocks, its chief executive said.
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The Economic Times
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