HELP auctions by early-2017

The central government is likely to auction its major oil and gas blocks under the new Hydrocarbon Exploration Licensing Policy (HELP) by early 2017. In March 2016, the government notified the new policy, replacing the New Exploration Licensing Policy (NELP) that governed the Indian hydrocarbon space for over a decade. Some of the key changes introduced in the new policy include a unified licence for extracting all forms of hydrocarbons, freedom to market gas, and a revenue-sharing system that puts an end to micro-management by the government.