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| PARLIAMENT
QUESTIONS AND ANSWERS ON PETROLEUM SECTOR |
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GOVERNMENT OF INDIA
MINISTRY OF PETROLEUM AND NATURAL GAS
LOK SABHA
UNSTARRED QUESTION NO 606
TO BE
ANSWERED ON 23.02.2006
EXECUTIVE PETROLEUM ECONOMIC
ZONE
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Will the Minister of PETROLEUM
AND NATURAL GAS be pleased to state:-
(a) whether the Government is considering to set up
an executive petroleum economic zone for service
providers in the oil and gas industry:
(b) if so, the details thereof;
(c) the benefits likely to be gained therefrom; and
(d) the other steps taken by the Government to
become a global sourcing hub in the petroleum
sector?
ANSWER
MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND
NATURAL GAS (SHRI DINSHA PATEL)
(a) to (d): In view of India`s export earnings of
over Rs.28,000 crore from petroleum products in
2004-05, Indian Oil Corporation Limited was asked to
prepare a detailed feasibility study on making India
as an investment destination for refineries, in
particular export-oriented refineries, aimed at
promoting India as the refining hub of South Asia /
South-East Asia. The study was carried out by IOC
along with M/s. Shell Global Solutions International
B.V. IOC has submitted the feasibility report.
As per the study, an economically feasible Super
Site Concept has been developed based on a Paradip
type as nucleus. The concept derives competitive
strength from world-class scale, integration,
specialisation and long term national and site
planning.
In view of the delicensing of the refinery sector
since June, 1998, it is now for the Boards of Oil
PSUs to take a decision on setting up of more
Petroleum infrastructure, based on economic
considerations.
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