Kelkar panel differs with C Rangarajan on oil & gas policy

A panel set up by the oil ministry to suggest ways of raising domestic oil and gas output has recommended continuing with the present production-sharing regime in contracts for blocks and allow companies to recover exploration and production costs. The panel, under economist and former bureaucrat Vijay Kelkar, has recommended that written contracts should be implemented in letter and spirit and not interpreted in subjective manner that give rise to controversies.

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