Govt may relax clause that dissuaded foreign firms from taking part in OALP

The government is likely to relax a controversial clause that kept foreign companies from taking part in the first round of the Open Acreage Licensing Programme (OALP), launched last year. Under this clause, firms had to seek the government’s permission for divesting in a firm that got the licence to an acreage (an area identified for exploring and producing oil and gas). The last date for submitting an expression of interest (EOI) for the second round of the OALP was May 15. However, the government now wants foreign firms to come in with final bids for this round, according to a p.....

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