India cuts oil and gas royalties to boost domestic production
NewsBytes | May 12, 2026 11:39 AM CST
Companies get 7-year 0 royalty offshore
If companies are working in deepwater or ultra-deepwater fields under newer policies, they'll pay zero royalty for the first seven years (yep, nothing at all).
After that, rates rise a bit but stay low (5% for deepwater, 2% for ultra-deepwater).
The hope is this will spark more exploration in tricky spots and help India meet its growing energy needs without looking abroad.
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