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Maiden policy on hydrocarbon exploration

The government has made a move to frame a maiden policy to expedite countrywide hydrocarbon explorations with an intent to rein in the growing reliance on imported fuels.

This is part of an initiative to explore hydrocarbon deposits across the country by local and foreign firms.

Energy and mineral resources division under power, energy and mineral resources ministry already drafted the policy weeks ago, said a senior ministry official.

The draft would be finalised soon, he continued.

Energy ministry now feels it urgent to accelerate local hydrocarbon explorations against the backdrop of the leanest-ever discoveries in the last one decade.

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