
The overall production outlook of the company is more positive than it has been for a long time. It still has problems at the Pindori field.
Oil production contributes to more than 56% of revenue, so it is enjoying the high oil price. The government has announced 'Petroleum Policy 2007'and has removed the $36 per barrel cap. The new policy holds incentives for the E&P companies, especially those companies, which are pursuing aggressive exploration activities. The policy will lead to a 6-8% increase in the oil and gas production prices.
1 comment:
Thanks for the info, I'll add to my blogroll.
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