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9th August 2016 Current Affairs Questions and Answers

9th August 2016 Current Affairs MCQs, Quiz, Questions : Current Affairs for August 2016 ,  Daily Multiple Choice Questions (MCQs) for In...

Hydrocarbon Exploration and Licensing Policy (HELP)

Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the Hydrocarbon Exploration and Licensing Policy (HELP).
Four main facets of this policy are:

  1. uniform license for exploration and production of all forms of hydrocarbon,
  2. an open acreage policy,
  3. easy to administer revenue sharing model and
  4. marketing and pricing freedom for the crude oil and natural gas produced. 

The decision will enhance domestic oil & gas production, bring substantial investment in the sector and generate sizable employment. The policy is also aimed at enhancing transparency and reducing administrative discretion.