{"id":259418,"date":"2019-02-18T05:20:53","date_gmt":"2019-02-18T05:20:53","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=259418"},"modified":"2019-02-18T05:20:53","modified_gmt":"2019-02-18T05:20:53","slug":"high-level-panel-for-reverting-to-older-system-of-auctioning-oil-blocks","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/high-level-panel-for-reverting-to-older-system-of-auctioning-oil-blocks\/","title":{"rendered":"High-level panel for reverting to older system of auctioning oil blocks"},"content":{"rendered":"<p>NEW DELHI: Two years after the government shifted to revenue sharing contracts for oil and gas block auctions, a high-level panel has suggested reverting back to older system of awarding areas in most basins based on exploration commitment. <\/p>\n<p>The six-member panel, headed by NITI Aayog Vice Chairman Rajiv Kumar, which was formed on directions of Prime Minister Narendra Modi, in its report submitted on January 29 stated that &#8220;unexplored areas in Category II &amp; III basins be bid out exclusively based on exploration work programme&#8221;. <\/p>\n<p>&#8220;No revenue or production sharing other than payment of statutory levies (including royalty)&#8221; should be the criteria, it said. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Two years after the government shifted to revenue sharing contracts for oil and gas block auctions, a high-level panel has suggested reverting back to older system of awarding areas in most basins based on exploration commitment. The six-member panel, headed by NITI Aayog Vice Chairman Rajiv Kumar, which was formed on directions of Prime Minister Narendra Modi, in its report submitted on January 29 stated that &#8220;unexplored areas in Category II &amp; III basins be bid out exclusively based on exploration work programme&#8221;. &#8220;No revenue or production sharing other than payment of statutory levies (including royalty)&#8221; should be [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-259418","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/259418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=259418"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/259418\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=259418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=259418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=259418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}