News > Monetise reserves or govt will sell them: Pradhan to state-run oil cos

Monetise reserves or govt will sell them: Pradhan to state-run oil cos

Union Minister for Petroleum and Natural Gas Dharmendra Pradhan has directed public sector oil and gas companies to monetise stranded energy reserves and discoveries, adding that in case they are incapable of doing so, the government would step in and sell them off.

Speaking at the BNEF summit, the minister stressed that state-run energy majors should enter into joint ventures or develop new business models for monetisation of the stranded assets.