The Bharatiya Janata Party’s decisive win in India’s general elections should see key reforms in the oil and gas sector pushed through and could end years of under-investment in the country’s exploration sector. As a first step, analysts expect the new government led by Prime Minister Narendra Modi to swiftly raise natural gas prices — which would promote offshore investment — and deregulate diesel prices to cut the government’s subsidy burden. “The oil and gas space in India is ripe for reform, in our view,” Credit Suisse said in a recent report. “Many measures have already been implemented, and a strong new government at the center can potentially continue and complete the reform process,” the bank said. Analysts at Bernstein Research echoed a similar sentiment, saying that they expected a Modi election win to be positive for the oil and gas sector. “After stalling […]