NEW DELHI: The government has constituted a Group of Ministers (GoM) to examine the key upstream reforms including total freedom for gas pricing as recommended by a Niti Aayog-led panel.
The panel — set up in October after rocketing oil prices and a battered rupee inflated the import bill and drew government’s attention back to stagnant local oil production — has recommended sweeping measures like moving away from recently adopted revenue-sharing model for exploration licences, and gas pricing freedom for all discoveries that are yet to start production.
