The Straits Times
Published on Oct 29, 2012

New India oil minister vows speedy decisions


NEW DELHI (REUTERS) - India's new oil minister has promised to speed decision making in an effort to attract foreign investment, and will push domestic oil companies to aggressively bid for foreign oil and gas assets to meet growing energy demand.

Mr Veerappa Moily was appointed as the country's new Petroleum and Natural Gas Minister, replacing Mr Jaipal Reddy, as part of a broader cabinet reshuffle unveiled on Sunday.

Mr Moily said his ministry would create a roadmap to help the energy-starved nation improve its investment climate and increase oil and gas output and build downstream infrastructure, such as liquefied natural gas terminals and pipeline networks.

"We have to keep our doors and windows open for whosoever wants to invest here," Mr Moily told reporters on Monday.