News Release Details
Nelp-VII deferred till Nov
Mumbai 07-Aug-2007
The Directorate General of Hydrocarbons (DGH) has said that the seventh round of National Exploration and Licensing Policy (Nelp) has been postponed till November 2007, as government wants to resolve the gas pricing issue before inviting bids from international players. By postponing Nelp, government hopes to buy time to decide the future of gas pricing in the country. A pricing policy has been hanging fire for the past several years and the fight between the two Ambani brothers has also raised new issues that are yet to be resolved. Speaking on the sidelines of a Cfl seminar on 'Availability of services in India's offshore exploration and production sector", DGH VK Sibal said, "We want to sent right signals to international investors. We have postponed Nelp-VH till November, people at the highest level are looking into the matter (the gas pricing issue) and the best solution will come by then. If the pricing regime changes, we will inform investors."
Mumbai 07-Aug-2007
The Directorate General of Hydrocarbons (DGH) has said that the seventh round of National Exploration and Licensing Policy (Nelp) has been postponed till November 2007, as government wants to resolve the gas pricing issue before inviting bids from international players. By postponing Nelp, government hopes to buy time to decide the future of gas pricing in the country. A pricing policy has been hanging fire for the past several years and the fight between the two Ambani brothers has also raised new issues that are yet to be resolved. Speaking on the sidelines of a Cfl seminar on 'Availability of services in India's offshore exploration and production sector", DGH VK Sibal said, "We want to sent right signals to international investors. We have postponed Nelp-VH till November, people at the highest level are looking into the matter (the gas pricing issue) and the best solution will come by then. If the pricing regime changes, we will inform investors."