India to Review Exploration, Gas Pricing Policies

摘要

India will review its exploration and gas pricing policies as the government seeks to attract more foreign investment to its energy sector by putting in place a simple and transparent fiscal regime, and removing uncertainties that have led to legal battles with explorers. But companies should not hold their breath for swift action. “The oil and gas exploration policy will be reviewed to move from profit-sharing to revenue-sharing contracts,” Federal Finance Minister P. Chidambaram said Thursday, in his budget speech. “The natural gas pricing policy will be reviewed and uncertainties regarding pricing will be removed.”