Oil & gas royalty rejig: What govt big upstream reform means

NEW DELHI: The government announced the rationalisation of royalty rates and methodologies for crude oil, natural gas and casing head condensate (a light hydrocarbon liquid obtained during gas production), in a move aimed at simplifying regulations and boosting India’s upstream energy sector.

Union petroleum and natural gas minister Hardeep Singh Puri said the decision would bring greater clarity and consistency to India’s oil and gas regime.