News Detail

<p style="text-align: justify;"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">Government will offer at least 56 oil and gas blocks in its next round of auction of exploration blocks that will be launched next week, oil secretary Vivek Rae said on Monday.<br /> <br /> The federal oil ministry, which has already moved a cabinet note for the next exploration licensing round, plans to invite bids for the blocks in February.</span></span></span></p> <p style="text-align: justify;"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">The oil ministry has recommended revenue sharing between the companies and the government in place of the current production sharing mechanism.</span></span></span></p> <p style="text-align: justify;"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">Source-On Request</span></span></span></p>