After giving more attractive terms under its new hydrocarbon exploration licensing policy (HELP), the government is now likely revive plans to reform the regulatory framework in the oil and gas sector by arming the office of upstream regulator Directorate General of Hydrocarbons (DGH) with statutory powers.
This will be in conjunction to another plan to carve out a specialist wing under the Petroleum Ministry for assisting it in administration of contracts.
Though Petroleum Minister Dharmendra Pradhan had earlier ruled out statutory status for DGH, saying the sector has not fully developed and needs government support, a source close to the developments in the ministry said that the plan is being revived again to prevent a clash of interest in DGH’s regulatory operations.
Also, the policy environment has undergone several reforms and it is felt that the sector would now grow on its own. Read More
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