Domestic oil and gas companies may soon get cess and royalty relief- Details

The government is considering to lower the cess and royalty for domestic oil and gas companies, with indigenous production becoming increasingly un-remunerative due to the huge fall in global crude prices.

“The petroleum and natural gas ministry has recommended to the finance ministry to look into the expectations of the oil and gas producing companies, about the cess and royalty issue in a sympathetic manner,” Union oil minister Dharmendra Pradhan told a business channel. “We are concerned about this issue, primarily ONGC, Oil India and other private companies,” Pradhan added.