High-level committee recommends strategy to reduce crude oil imports

A high level committee (HLC) of companies has recommended strategies to reduce import dependency. The committee was formed to discuss research-related synergies and tax issues for state-run oil companies.

The committee also explored the possibility of forming a new entity for oil services and related manpower. “It also explored the need and possibility of formation of new entity dealing with oil services and supply of qualified manpower to oil and gas sector around the world,” the ministry said in its statement.