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Speeding Up the Clearance Cycle in Exploration Segment may Pump Up the Indian Upstream Market

The oil ministry has accelerated the pace of approvals for explorers' budgets and work programmes, ensuring that companies begin the current fiscal with clear investment plans, as opposed to previous years when operators would complain of uncertainty due to delays. 

Source:  ET

SNP Insights

Faster approval to oil explorer from the beginning of fiscal year, would enable the companies to strategise their investment plan appropriately. It will bring in more clarity among upstream players to execute their business plan effectively so that no cost & time over run happens. It will boost the business sentiments & hence investment is likely to grow in the sector.

Source:  SNP Infra Research