Administration Energy & Power

Falling Oil, Gas production A Concern: Oil Minister

The falling oil and gas production is an issue of concern, Oil Minister Dharmendra Pradhan said, adding the government will soon set up a gas trading hub.

Crude oil production in October dropped 5 percent from a year earlier to about 2.89 million tonnes, while natural gas output was down 0.4 percent at 2.80 billion cubic meters, provisional data published by the government showed last month.

The government also plans to invest $300 billion in the oil and gas sector in the coming decade, Pradhan added.