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OIL AND Gasoline

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Authorities has accepted Hydrocarbon Exploration & Licensing Policy (Assist) and same has been notified on March 30, 2016. This coverage gives a uniform licensing system to discover and produce all hydrocarbons resembling oil, gas, coal bed methane, shale oil/gasoline, and many others. below a single licensing framework, possibility to pick the exploration blocks with out waiting for formal bid spherical and also provides many incentives akin to reduced royalty rates for offshore blocks, advertising and marketing & pricing freedom and simple to administer income sharing model.
Found Small Fields Policy introduced in March, 2016 for monetization of 67 natural gas vs oil emissions discoveries thorough worldwide competitive bidding.
Under the brand new Home Gas Pricing Coverage, a transparent new gasoline pricing formulation linked to world natural gas vs oil emissions market made efficient w.e.f. November 1, 2014.
Advertising and marketing and pricing freedom for fuel produced from geologically tough, high danger / high price areas with a provision of ceiling price based mostly on landed price of alternate fuels introduced on March 10, 2016.
Policy Framework for relaxation, extensions and clarifications at the development and manufacturing stage beneath PSC (Manufacturing haring Contract) regime for early monetization of hydrocarbon discoveries was permitted on November 10, 2014.
Policy for grant of extension to the Production Sharing Contracts of 28 Small and medium sized discovered blocks was authorized on March 10, 2016.
Coverage on Testing Requirements for discoveries in New Exploration Licensing Coverage (NELP) blocks was authorized on April 29, 2015.
Hydrocarbon imaginative and prescient 2030 for North East India has been launched in February, 2016
Pooling of gas in Fertilizer (Urea) sector was accepted on March 31, 2015 for supply of fuel at uniform delivered value to natural gas vs oil emissions all fertilizer plants on the gasoline grid for production of urea through a pooling mechanism of home gasoline with R-LNG
The Petroleum and Natural Gasoline Regulatory Board Act, 2006 regulates refining, processing, storage, transportation, distribution, advertising and the sale of petroleum, petroleum products and pure fuel.
The Nationwide Biofuel Coverage, 2009 promotes bio-gas utilization, the government of India has offered a 12.36% concession on excise obligation on bio-ethanol and exempted bio-diesel from excise duty.
Government is implementing Ethanol Blending Petrol programme underneath which oIL advertising and marketing companies are mandated to sell Ethanol blended petrol with upto 10 % Ethanol. Mechanism for procurement of ethanol by Oil Advertising Companies (OMCs) to perform Ethanol Blended Petrol programme was accepted on December 10, 2014. In order to present a stimulus to the above programme, the government has enhanced the Ethanol Procurement Worth and opened alternate route like cellulosic and ligno cellulosic supplies, including Petrochemical route.
Direct sale of bio-diesel by non-public manufacturers/suppliers to bulk consumers like Railways and State Transport Companies was allowed on August tenth, 2015.
The milestones set in Auto Gasoline Policy 2003 have already been achieved. Ministry of Petroleum and Pure Gas has issued a communication to all the involved stake holders together with Oil Advertising and marketing Firms for implementation and expansion of Provide of BS-IV auto fuels in phases covering your entire nation by April 1, 2017 as per the highway map given in Auto Fuel Imaginative and prescient & Coverage -2025
The government has determined to leapfrog from BS-VI to BS — VI fuels w.e.f. April 1, 2020.
The Coverage on Shale Fuel & Oil, 2013 allows corporations to apply for shale gasoline and oil rights of their petroleum exploration licenses and petroleum mining leases.