India is in the process of reforming the energy sector with an eye on achieving the government’s goal to cut energy imports by 10% by 2022, Oil Minister Dharmendra Pradhan told an oil industry conference on Thursday. New Delhi is working on a new policy to enhance oil recovery from aging fields by providing incentives, such as halving oil production tax, known as the cess, and cutting royalties on gas, Pradhan said. The government is also working on a new biofuel policy that seeks to boost the use of biodiesel and ethanol in gasoline and diesel, and will soon launch tenders for city gas distribution in 100 cities under a new policy framework.
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