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Jan 07, 2019
Govt expects about Rs 40,000 cr investment in OALP-II bid round; 14 blocks put up for auction: Oil ministerIndia had in July 2017 allowed companies to carve out blocks of their choice with a view to bringing about 2.8 million sq km of unexplored area in the country under exploration.
Aug 15, 2018
Government notifies incentives to state-owned oil firms in pre-NELP blocks; new rule applies to 11 fieldsThe Centre has notified a new policy requiring state-owned ONGC and OIL to pay royalty and cess only to the extent of their equity holding in certain pre-1999 oil and gas fields.