Government relaxes guidelines for small, isolated gas fields
The government has further relaxed rules for the sale of natural gas produced from small and isolated fields by waiving off time stipulation for fields located in the North East India.
The oil ministry had in July 2013 allowed pricing freedom for gas produced from small, isolated fields and given marketing freedom by imposing no obligation to seek customers only from the fertiliser and power sectors.
The policy however stipulated that only those customers who can take supply within 90-days be sold the gas. In view of the difficulties, this timeline has now been extended to one year, said an Oil Ministry order.
“The National Oil Companies (NOCs) have brought to the notice of the Ministry that customers of North East Region are facing various difficulties in utilising the gas within 90 days and have been requesting for longer lead time for monetisation of gas from small and isolated fields,” the Oil Ministry order said.
Read full article: DNA India
HYDERABAD: India sees the current slump in oil prices as an opportunity to enhance its energy security, and the government Read more
SINGAPORE: Gold slipped on Monday, tracking lower oil prices, but failed to get safe-haven bids despite weakness in the dollar and Read more
New Delhi: To check the diversion of kerosene for adulteration of diesel and ensure the subsidy on the fuel reaches Read more
Government on Saturday hiked excise duty on petrol by Rs 0.37 per litre and by Rs 2 a litre on Read more
