BP wants predictable price regime in India

NEW DELHI: Oil and gas major BP Plc wants a predictable pricing regime for natural gas in India, as this is vital for developing future projects in the country, the head of its Indian unit said.

"Clarity on gas pricing is vital for the development of the "next wave" of projects, which will add production beyond 2015 but for which investment decisions need to be made now," Sashi Mukundan said at an event.

BP, which acquired stake in 23 oil and gas blocks in India from Reliance Industries in a $7.2 billion deal last year, is working with the Indian company to ramp up production at the blocks, he said.