This report prepared by the committee chaired by Dr. Vijay Kelkar includes a discussion of the economic foundations of Exploration and Production Contracts and an early action program drawn upon the analysis and inputs received from wide ranging consultations with stakeholders.

World markets for petroleum and other liquid fuels have entered a period of dynamic change—in both supply and demand. Potential new supplies of oil from tight and shale resources have raised optimism for significant new sources of global liquids.

This report of the Comptroller and Auditor General of India contains the results of the performance audit of pricing mechanism of major petroleum products in central public sector oil marketing companies. The audit covered the period from 2007-08 to 2011-12.

Chinese NOCs first ventured overseas to invest in oil and gas production more than 20 years ago. Today, they have emerged to become international players with activities spreading across more than 40 countries and producing 2.5 million barrels of oil equivalent per day (mboe/d) of oil and gas outside of China.

This is the first edition of the India Energy Subsidy Review, a biannual publication of the IISD’s Global Subsidies Initiative. Part One outlines economic and policy developments affecting India’s subsidized key fuel markets (diesel, liquefied petroleum gas, kerosene and natural gas), and analyses the dynamics of each market.

This report prepared by the committee chaired by Dr. Vijay Kelkar includes a discussion of the economic foundations of Exploration and Production Contracts and an early action program drawn upon the analysis and inputs received from wide ranging consultations with stakeholders. Kelkar committee was set up by the Government of India to prepare a roadmap for enhancing domestic production of oil and gas and sustainable reduction in import dependency by 2030.