Hydrocarbon exploration and licensing policy Current Affairs, GK & News
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 ..
Topics: Chemistry • Energy in India • Fuel gas • Fuels • Hydrocarbon exploration • Hydrocarbon exploration and licensing policy • Natural Gas • Oil exploration • petroleum • Petroleum geology • Physical sciences • Shale gas
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 ..