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Sputnik International
The Government of India is planning to spend around Rs 7.5 trillion to build oil and gas infrastructure over the next five years, said Prime Minister Narendra Modi. After dedicating the Ramanathapuram–Thoothukudi natural gas pipeline and Gasoline desulfurisation unit at Chennai Petroleum Corporation Ltd and laying the foundation stone for the Rs 31,500 crore Cauvery basin Refinery at Nagapattinam, the Prime Minister said that in 2019-20, India imported over 85 per cent of oil and 53 per cent of gas to meet its domestic demands. Can a diverse and talented nation like ours be so energy-dependent, he asked. It is our collective duty to work towards clean and green sources of energy and reduce energy-dependence, said the Prime Minister, adding that his Government is sensitive to the concerns of the middle class and thus, India is increasing focus on clean and green sources and ethanol to help farmers and consumers.
Read more about MF energy exposure off 280 bps since July, at near 3-yr low; IT at new high on Business Standard. According to one analysis, about 6.9% of equity scheme assets were invested in energy firms, close to 12% in IT
Staying nimble and flexible is key to leading a major firm amid the Covid-19 pandemic, says ExxonMobil Asia-Pacific chairman and managing director Geraldine Chin.. Read more at straitstimes.com.