Domestic oil and gas operators have approached the government seeking a reduction and deferment of royalty, cess and profit petroleum paid by companies to the government, with the Covid-19 pandemic hitting demand and pushing international crude prices to new lows.
In addition, companies batted for a higher gas price compared to the existing $2.39 a million British thermal unit (mBtu), effective from April to September this year.
In a letter to the finance ministry, the Association of Oil and Gas Operators (AOGO) said oil and gas operations are now unviable owing to the higher share of government taxes.
