petrol
Waiting for relief from increased price of petrol-diesel and gas may be longer. Actually, the price of crude oil and gas in the international market is expected to remain high. Due to this, there is no possibility of early decrease in fuel prices in the Indian market. Sandeep Kumar Gupta, chairman of the public sector company Gayle India, has said that it may take some time to soften the prices of oil and gas. He hoped the second term of US President Donald Trump to be good for the energy sector.
Gayle will expand his business
During the annual meeting of the World Economic Forum (WEF), Gupta said here that Gayle is planning to increase its capital expenditure to Rs 10,000-12,000 crore in the next 3-5 years. He said that work is going on on many gas pipelines and other projects. He also hoped that in the general budget, relief fee on CNG would be given relief and some steps will be taken to bring natural gas under the purview of GST. Asked about Trump’s effect of becoming the President of America for the second time, Gupta said that President Trump is committed to more energy for America. He has already declared energy emergency, under which he wants more oil and gas to be discovered, so that there is energy efficiency in the US.
Fast work on gas pipeline
He said that this is a good sign for oil and gas fields, as the availability of oil and gas has increased, which will reduce the pressure on prices. He also added that the prices will take some time to soften and at the moment high prices will remain. Regarding our company, Gupta said that we are the largest natural gas pipeline in the country and we have already laid a large part of the country’s current natural gas pipeline. Even in the current year, we are completing many pipelines. He said, “The current capital expenditure which is about Rs 8,000-10,000 crore per year, we will increase it to about Rs 10,000-12,000 crore in the next 3-5 years.
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