Question: When did the Union Cabinet has approved the Hydrocarbon Exploration and Licensing Policy (HELP)?
(a) 8 March 2016
(b) 9 March 2016
(c) 10 March 2016
(d) 5 march 2016
Ans (c)
Related facts:
- On 10 March 2016 Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approvedthe Hydrocarbon Exploration and Licensing Policy (HELP).
Following are the main points of this policy:
- Uniform license for exploration and production of all forms of hydrocarbon,
- An open acreage policy,
- Easy to administer revenue sharing model and
- Marketing and pricing freedom for the crude oil and natural gas produced.
- The above decision willenhance domestic oil & gas production, bring substantial investment in the sector and generate sizable employment.
- The policy is also aimed atenhancing transparency and reducing administrative discretion.
- The uniform license will enable the contractor to explore conventional as well as unconventional oil and gas resources including CBM, shale gas/oil, tight gas and gas hydrates under a single license.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=137638
http://pib.nic.in/newsite/hindirelease.aspx?relid=46535
http://www.moneycontrol.com/news/business/govt-clears-new-hydrocarbon-explorationlicensing-policy_5835341.html