According to Reuters, October 10, New Delhi reported that Indian oil and gas minister Pradan on Tuesday (10) in New Delhi said that because India intends to cut imports, the world's third largest oil consumer hope in the next 10 years to attract foreign Investors are involved in the country's $ 300 billion energy project.

India's current 80% of oil demand is dependent on imports, Indian Prime Minister Moody's hopes to reduce this proportion by 2020 to 67%. The planned energy projects will include improving India's refining capacity, oil and gas exploration and the development of natural gas infrastructure, including transport and re-gasification of liquefied natural gas (LNG).

"Over the next 10 years, India will provide $ 300 billion worth of energy projects to foreign companies eager to invest in the country," Pradan said at an energy conference in New Delhi on Tuesday.

Over the years, India's oil and gas production has been stagnant, and domestic fuel demand with the economic expansion and rising. The Moody's government has been taking steps to develop its own huge energy reserves, to promote foreign investment in the industry and to loosen relevant regulations, including pricing and marketing.

Encouraged by these reforms, BP and India's Prudential industrial companies this month announced an investment of $ 6 billion to restore the production of a deepwater gas field on the east coast of India.