The high powered Energy coordination Committee (ECC), chaired by PM Manmohan Singh, is likely to meet on august 6 to take stock of the damage caused to the countrys energy security on account of ONGCs Bombay High accident. While ONGC has said that production of crude would be resumed soon, the ECC is expected to look at initiatives that may be necessary to prevent such mishaps. The loss is being viewed seriously since global oil prices at ruling high. The shortfall in production from Bombay High may force the country to import more oil unless ONGC steps up production elsewhere.
The issue assumes significance in view of the harsh opposition to the gas pipeline project by the US due to Americas soured political relations with Iran. On the future of the countrys nuclear power generation programme, the prime minister may brief the committee on the perspective behind the recent agreement with the US.