The government is going to monitor oilfields of ONGC and Oil India and ordered setting up separate committees led by a bureaucrat for supervision as part of its broader plan to make these firms more accountable and boost output from their ageing fields that contribute 70% of India’s crude output.
The Directorate General of Hydrocarbons (DGH), the technical arm of the oil ministry, has ordered the constitution of the ‘review committees for the purpose of management of oil and gas resources of nomination fields’ of ONGC and Oil India respectively’. Each committee will be chaired by the Director General of DGH and include another official of DGH, and top executives of the oil company, according to the 25th May order. ONGC and Oil India must name their nominees within a fortnight of the order. Read More…
Credit By : The Economics Times
Latest posts by The Economic Times (see all)
- GIP in talks to buy RattanIndia solar power assets for $300 mn - April 26, 2019
- India’s crude oil production drops 4 per cent in FY19 - April 25, 2019
- Fitch sees policy uncertainty in oil & gas sector if UPA wins elections - April 25, 2019