Cabinet Committee on Economic Affairs

Business

Cabinet approves Deregulation of Sale of Domestically Produced Crude Oil

New Delhi : The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has approved ‘Deregulation of Sale of Domestically Produced Crude Oil’, whereby Government has decided to cease allocation of crude oil and condensate w.e.f. 01.10.2022. This will ensure marketing freedom for all Exploration and Production (E&P) operators. The condition in the Production Sharing Contracts (PSCs)…