{"id":259570,"date":"2019-02-18T06:37:03","date_gmt":"2019-02-18T06:37:03","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=259570"},"modified":"2019-02-18T06:42:37","modified_gmt":"2019-02-18T06:42:37","slug":"high-level-panel-for-reverting-to-older-system-of-auctioning-oil-blocks-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/high-level-panel-for-reverting-to-older-system-of-auctioning-oil-blocks-2\/","title":{"rendered":"High-level panel for reverting to older system of auctioning oil blocks"},"content":{"rendered":"<p>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>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 the criteria, [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,211,144],"tags":[],"class_list":["post-259570","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/259570","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=259570"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/259570\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=259570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=259570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=259570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}