Hydrocarbon exploration and licensing policy Current Affairs, GK & News

Hydrocarbon exploration and licensing policy  Current Affairs, GK & News

Hydrocarbon Exploration and Licensing Policy (HELP)

The Union Cabinet has approved the Hydrocarbon Exploration and Licensing Policy (HELP). Four main facets of this policy are: uniform license for exploration and production of all forms of hydrocarbon, an open acreage policy Easy to administer revenue sharing model and Marketing and pricing freedom for the crude oil and natural gas produced. The decision will enhance domestic ..

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Cabinet delegates power to Finance and Oil Ministers to award oil and gas blocks

The Cabinet Committee on Economic Affairs (CCEA) has delegated powers to Finance and Petroleum Ministers to award oil and gas exploration blocks to successful bidders under Hydrocarbon Exploration Licensing Policy (HELP). Under HELP, exploration blocks are to be awarded twice in a year and currently awarding of blocks requires the CCEA’s approval. Delegation of these ..

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