Centre approves deregulation of the sale of domestically produced crude oil ...Middle East

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Centre approves deregulation of the sale of domestically produced crude oil
source : Devdiscourse ( Middle East ) () 12
With an aim to further spur economic activities, and incentivize making investments in the upstream oil and gas sector, the cabinet committee on Wednesday approved the deregulation of the sale of domestically produced crude oil. " The government has decided to cease allocation of crude oil and condensate w.e.f. 01.10.2022. This will ensure marketing freedom for all Exploration and Production (E&P) operators. The condition in the Production Sharing Contracts (PSCs) to sell crude oil to the Government or its Nominee or Government Companies shall accordingly be waived off," read an official statement.

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