Petroleum Policy 2011 shortly

KARACHI: Petroleum Policy 2011, coming in a few days, is slated to be more pro-sector than before, Geo News reported Sunday.

Talking to Geo News, Federal Minister for Petroleum Dr Asim Hussain said that, under the new policy, Sui Southern Gas Company (SSGC) or Sui Northern Gas Pipelines Limited (SNGPL) would pipeline the gas fields instead of other exploration and production companies (E&Ps) and tariff such services.

There is more, oil/gas explorers’ share in the direct windfall levy income will also be raised from 30 to 35 percent, said he.

Dr Asim, as well, told Geo News that Petroleum Policy 2011 will be given a final touch within days to be presented before Economic Coordination Committee (ECC).