Latest News on Nelp
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Nelp - Total results - 23
Apr 09, 2019
Overhauled oil policy to apply from 4th bid round; move aims at wooing private, foreign investments: DGHUnder OALP, companies are allowed to put in an expression of interest (EoI) for prospecting of oil and gas in any area that is presently not under any production or exploration licence.
Mar 11, 2019
Govt overhauls oil and gas exploration policy; no profit to be charged on output in less explored areasIn a major overhaul of oil and gas exploration permits, the government will not charge any share of profit on hydrocarbons produced from less explored areas as it looks to attract the elusive private and foreign investment to raise domestic output
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.
Jul 30, 2018
Govt to launch auction of 60 oil and gas field in second round of bidding on 9 AugustThe fields on offer hold an estimated 1.4 billion barrels of oil and oil equivalent gas.
Jun 26, 2018
Govt allows companies to explore for oil, gas beyond block boundariesIn a bid to make it easier for explorers to find and produce more oil and gas, the Government has allowed companies to go beyond their allocated block boundaries if a discovery were to extend outside their contracted area
Apr 11, 2018
Ease of doing business: Cabinet delegates powers to oil, finance ministers to award oil blocksTill now, only the Cabinet headed by Prime Minister had the powers to approve award of an block or area for exploration and production of oil and gas
May 23, 2016
Modi govt two years on: Here are five steps that will help economy take offAnother big plus for the government is the launch of new social security schemes relating to insurance and pension, which will also be delivered directly into the Jan Dhan accounts.
Sep 02, 2015
Cabinet clears auctioning of ONGC, Oil India fields to private firmsThe weight for revenue share will be 80 percent while 20 percent would be for work programme that may include drilling of exploratory and development wells and seismic studies.
Jun 26, 2015
India to auction oil and gas blocks this fiscal, says Dharmendra PradhanThe minister said investors are "happy" with the current gas pricing formula which is reviewed every six months.
Jun 12, 2015
Reliance Industries seeks freedom to fix gas prices, says talks with govt constructiveRIL had won the KG-D6 block in Bay of Bengal under the first round of bidding under New Exploration Licensing Policy (NELP) round in 2000.