The oil & gas sector has attracted foreign direct investments worth $ 1.18 billion in the past two financial years between April 2014 and March 2016, the government said in its ´achievement report´ for the petroleum sector.
The report also talks about a slew of measures taken by the Modi government in the sector including de-regulating diesel, unveiling the new Hydrocarbon and Exploration Licensing Policy (HELP) and setting up the mega Paradip refinery apart from the success of the Pradhan Mantri Ujjwala Yojana, and PAHAL, a direct benefit transfer scheme for LPG subsidy.
For infrastructure creation in the hydrocarbon space, the government set up the mega 15 million tonne Paradip refinery and has been working towards building strategic crude oil reserves at three locations across the country.