India's move to broaden the scope of its exploration policy beyond petroleum and natural gas while lately abolishing a windfall tax on domestically produced crude oil will likely draw in private and foreign entities to the upstream energy sector, according to S&P Global Commodity Insight
According to a notification from the central government, it was learnt that the additional excise duty on ATF was also cut to Rs 1.5 per litre from Rs 6 per litre earlier.
New Delhi [India], June 29 (ANI): 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.