LIVE TV DownloadNews18 App
News18 English
»
1-min read

India to Launch Second Oil Exploration Licensing Round on Monday

India, the world's third biggest oil importer, wants to unlock its vast hydrocarbon resources to cut dependence on foreign oil.

Reuters

Updated:January 4, 2019, 9:29 PM IST
facebookTwittergoogleskypewhatsapp
India to Launch Second Oil Exploration Licensing Round on Monday
FILE PHOTO: A worker walks atop a tanker wagon to check the freight level at an oil terminal on the outskirts of Kolkata November 27, 2013. REUTERS/Rupak De Chowdhuri/File Photo
Loading...
New Delhi: India will start auctioning for 14 oil and gas blocks in its second exploration licensing round on Monday, giving freedom to the companies to carve out areas they want to drill.

The blocks together hold undiscovered reserves of about 14,995 million tonnes of oil equivalent, according to a tweet from Directorate General of Hydrocarbon, India's upstream regulator.

India, the world's third biggest oil importer, wants to unlock its vast hydrocarbon resources to cut dependence on foreign oil.

India imports nearly three quarters of its energy requirement but Prime Minister Narendra Modi has set a target of cutting the country's fuel import dependency to two-thirds by 2022 and to half by 2030.

India's previous licensing rounds have been dominated by local firms.

Catch the biggest newsmakers and the biggest newsbreaks on CNN-News18, the only news destination. Keep watching CNN-News18 at just 50 paise per month. Contact your cable/DTH operator now!

*Rental/capacity fee of Rs. 130/- as charged by cable/DTH operator may apply. **GST extra.
| Edited by: Ahona Sengupta
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,237.70 4.50
Sun Pharma 398.30 1.93
Kotak Mahindra 1,267.60 2.21
Larsen 1,314.55 -0.25
HDFC Bank 2,148.15 0.84
Company Price Change %Gain
Reliance 1,234.50 4.36
ICICI Bank 371.25 -0.17
Sun Pharma 398.35 1.94
Kotak Mahindra 1,267.30 2.42
Yes Bank 192.10 -3.10
Top Gainers
Company Price Change %Gain
Reliance 1,237.70 4.50
Kotak Mahindra 1,267.60 2.21
Bajaj Finserv 6,384.55 2.15
Bajaj Finance 2,594.20 2.02
Sun Pharma 398.30 1.93
Company Price Change %Gain
Reliance 1,234.50 4.36
Kotak Mahindra 1,267.30 2.42
Sun Pharma 398.35 1.94
Bajaj Finance 2,588.90 1.89
Infosys 742.75 1.61
Top Losers
Company Price Change %Gain
Hero Motocorp 2,794.25 -3.61
Yes Bank 191.95 -3.35
Wipro 337.80 -2.41
Maruti Suzuki 7,208.40 -2.03
IOC 135.65 -1.60
Company Price Change %Gain
Hero Motocorp 2,794.50 -3.40
Yes Bank 192.10 -3.10
Maruti Suzuki 7,200.95 -2.07
Bajaj Auto 2,685.45 -1.14
ONGC 144.75 -1.03

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results