Advertisement
Wednesday, Sep 29, 2021
Outlook.com

Foment In RIGzone

Is ONGC a victim? Should private players be favoured? A rift flares up.

Foment In RIGzone
Foment In RIGzone
outlookindia.com
-0001-11-30T00:00:00+05:53
It was the kind of ugly spat that doesn't exactly cover the Indian petroleum industry with glory. On one side was the director general, Hydrocarbons (DGH), head of a regulatory body that is under the administrative control of the Union ministry of petroleum & natural gas, an individual who doesn't enjoy the kind of independence that his counterparts in the telecom and power sectors do. On the other side was the country's largest (in terms of assets) and the most profitable corporate entity, ONGC.

The issue at stake: the award of oil and gas exploration contracts on the basis of bids placed by local public and private firms as well as foreign ones for various blocks as part of the 'sixth round' of the New Exploration Licensing Policy (NELP-VI). Once ONGC emerged as the top contender for over 20 blocks, DGH V.K. Sibal argued that the state-owned corporation should be denied the exploration contracts for 12 deep-water blocks 'purely' on account of its 'unsatisfactory' track record.

He went a step further and recommended the government...
Advertisement

Outlook Newsletters

Advertisement
Advertisement

Read More from Outlook

Punjab Congress Crisis: Razia Sultana Steps Down From Cabinet In 'Solidarity' With Sidhu

Punjab Congress Crisis: Razia Sultana Steps Down From Cabinet In 'Solidarity' With Sidhu

Two Punjab Congress office-bearers also resigned from their posts following Navjot Singh Sidhu's resignation from the post of Punjab Pradesh Congress Committee (PPCC) President on Tuesday.

Zojila Tunnel Work Is Challenging But Govt Has Strong Will To Complete It In Time: Gadkari

Zojila Tunnel Work Is Challenging But Govt Has Strong Will To Complete It In Time: Gadkari

The union minister visited the Zojila tunnel, which will be the longest tunnel in Asia, and reviewed the progress of work.

Hardik Blitz Stuns Punjab As Mumbai Revive IPL Playoff Hopes

Hardik Blitz Stuns Punjab As Mumbai Revive IPL Playoff Hopes

Hardik Pandya finally showed glimpses of his destructive prowess with the bat.

Kanhaiya Kumar Joins Congress, Dalit Leader Jignesh Mevani Extends Support

Kanhaiya Kumar Joins Congress, Dalit Leader Jignesh Mevani Extends Support

Former JNUSU President Kanhaiya Kumar was previously with the CPI(M) while Dalit leader Jignesh Mevani is an independent MLA from Gujarat and the convener of RDAM.

Advertisement