UPA’s hydrocarbons policy may get quiet burial


The UPA government’s hydrocarbons policy announced with fanfare last month is unlikely to see the light of the day as not much work has progressed on it due to approaching elections, non-consensus over revenue models and changes of key personnel.

On January 5, the Union petroleum minister, M Veerappa Moily, had said that the government had identified 56 oil & gas blocks to be auctioned under the tenth round of New Exploration Licensing Policy (Nelp) and the bidding would happen soon.

The policy promised a tax holiday for the companies and a simpler formula of revenue sharing with government. Read more

Source: http://www.dnaindia.com/

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Categorised in: Oil & Gas, Sector News

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