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Published on 9/01/2019 11:13:15 AM | Source: Dion Global Solutions Ltd

Not getting NOC for petroleum mining licence from WB govt

Posted in Stock Market| #ONGC #Oil and Gas Sector #Stock Market

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Oil and gas downstream major ONGC on Tuesday alleged that it was not getting the no objection certificate for petroleum mining licence (PML) from the West Bengal government which was long due. The company plans to invest Rs 6,000 crore more for four Coal Bed Methane (CBM) blocks including the Ranigung belt in West Bengal, an official said.

"We are not getting the NOC for getting the PML within the Ranigung coal belt from the West Bengal government", the official told PTI on the sidelines of an event here. A major portion of the coal belt falls under the existing airport of Andal in Burdwan, the official added. Along with IOC, ONGC was supposed to do the downstream activity but the marketing rights lay with the former. ONGC had been given CBM blocks at Ranigung, Jharia, Bokaro and north Karanpura.

The bidding process conducted by Petroleum and Natural Gas Regulatory Board will cover 10 districts of West Bengal and bring substantial investment to the state along with employment opportunities, an official of the board said.