The Supreme Court of India has given all rights to the countries gas and oil reserves to the government of India. The facts are India has tremendous untapped reservoirs of oil and gas that have not even been explored let alone tapped. Recent discoveries of oil and gas has improved India's position in the world as a major source or oil and gas. These discoveries have opened up the investing possibilities in oil and gas of investors in India.
Currently, India spends more in importing its gas and oil needs than in any other import. Paradoxically, India exports in petroleum is its biggest earner in the foreign exchange sector. Petroleum was controlled in India solely by oil companies that were nationally owned. However, for the past 12 years, the petroleum sector in India has been joined by many new companies that have made the Indian oil and gas industry profits look better and better to potential investors.
The situation in India,however, is that the Supreme Court laid down a judgement in what is called the Ambani case that puts aside all disputes as to the owner of India's natural resources and the final arbiter in case of disputes. According to the Supreme Court, all natural resources in India belong to the people and not to private interests. The intent of that judgement was to make Indian natural resources as in oil and gas a primary source to advance the welfare of the Indian people. The government of India has monetary control over those resources in trust for the advancement of the Indian people.
The conflicting points of interest in India oil and gas is one for investors and the government of India to settle. At the moment, India uses the most rigs in the Asiatic market as it searches single mindedly for more oil and gas deposits thus making it a rich market for cement and oil and gas rigs.




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