 "oil")
The ministry of petroleum and natural gas has set up a six-member expert committee to review the existing production sharing contracts (PSCs) owing to the fall in crude oil prices and the Covid-19 lockdown.
Because of lower oil and gas price environment, there is a need to find ways of attracting investment in exploration and production of oil and gas.
The committee’s scope includes suggesting methodology for increased production and activities and changes required in the existing policies. The panel has members from ONGC, OIl India, directorate general of hydrocarbons (DGH), ministry of petroleum, and former DGH officials, with expertise
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