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This is an archive article published on January 15, 1999

Govt rules out further sops for blocks under NELP

NEW DELHI, JAN 13: The Government today announced that there would be no further fiscal incentives for the 48 oil blocks under New Explor...

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NEW DELHI, JAN 13: The Government today announced that there would be no further fiscal incentives for the 48 oil blocks under New Exploration Licensing Policy NELP saying that Notices Inviting Offers NIO have already been issued.

The incentives could be considered for the blocks to be offered in future, additional secretary in the petroleum ministry Devi Dayal told newsmen here today.

Asked about the Prime Minister Atal Bihari Vajpayee8217;s announcement last week that government could consider further fiscal incentives for serious investors in exploration arena, minister of state for petroleum Santosh Gangwar said quot;it is a directive statement for the future. Prime Minister knows the policyquot;.

Petroleum ministry officials, however, said they have sought guidance from the Prime Minister8217;s Office following the announcement made by Vajpayee at the inauguration of the four day international petroleum conference quot;Petrotech-99quot; on January 9.

 

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