The Indian government has approved licenses for shale gas exploration and the country's first coal mine tender. Thus, important steps were taken for two long-awaited reforms aimed at increasing investments in the energy sector.
The South Asian country, India, meets three-quarters of its energy needs through imports and has been working on coal and shale gas policies for more than two years. India has the world's fourth largest coal reserves and has significant unprocessed shale gas and oil reserves.
The Indian Oil Minister said that there will be no increase in oil prices. The Minister stated that the prices of diesel products applied in the country will not be increased. However, he wanted people to use these products sparingly to help the government lower the country's oil import bill.