India Working to Lure Foreign Investment with Freeing of Oil, Gas Prices

Bloomberg reported that India, in an effort to draw more foreign investment, is considering freeing prices from locally drilled gas and oil.

As quoted in the market report:

We are at an advanced stage — a cabinet paper is under consideration on how to move from an administratively fixed price to a market-related price for oil and gas explored and excavated by companies,” he told investors in Toronto as he started a tour of Canada and the U.S. to woo investors.

To view the whole Bloomberg report, click here.