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Govt Cuts Royalty Burden On Oil
Govt Cuts Royalty Burden On Oil, Gas Exploration: How It May Boost Domestic Crude Production
India rationalizes royalties on crude oil and gas, offers zero royalty for seven years on deepwater and ultra deepwater DSF and HELP blocks to cut costs.
In an attempt to push India’s domestic oil and natural gas sector amid the global crude oil crisis, the Indian government has rationalized royalty rates and methodologies for crude oil, natural gas, and casing head condensate. With strong policy support, the government is aiming to spur exploration, increase domestic production and enhance energy security.
Last year, the government brought amendments to ORD (Oilfield Regulatory and Development) Act and PNG rules. The revised schedule under Sec 6A of the ORD act removes long-standing inconsistencies across regimes.
This offers a stable, predictable and investor-aligned framework for India’s upstream sector.
The proposed changes are likely to lower operational costs for companies exploring challenging and high-investment oil and gas fields, as India looks to attract greater investments to increase domestic energy output and cut reliance on imports.
Under the new rules, companies producing crude oil and condensate from DSF and HELP blocks in deepwater and ultra-deepwater areas will not have to pay any royalty for the first seven years. After that, royalty rates will be 5 per cent for deepwater blocks and 2 per cent for ultra-deepwater blocks.
The government has also given the same relief for natural gas production from these blocks. Royalty will remain zero for the first seven years before rising to 5 per cent and 2 per cent, respectively.
India is mainly dependent on foreign countries to complete its crude oil requirements. Crude petroleum has the largest share of the country’s total import bill. It imported crude petroleum worth $134.7 billion out of the total import bill of $775 billion in 2025-26.
The crisis in West Asia and the closure of the Strait of Hormuz after the Iran-US war that brought the flow of tankers out of the Gulf nations to a very minimal level, hit India hard. It is struggling to fulfill its crude oil needs, leading to the energy crisis.
Source: News18.com
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