Oil cos seek government sops to explore shale oil
  • WebDesk BTVI
  • May 17 2019

Sources say the oil companies are seeking incentives from the government to explore shale oil. This move comes in the backdrop of problems in exporting crude oil in view of US sanction on importing oil from Iran — one of the major importers. The breakeven cost for shale oil is higher than crude oil, thus companies need government sops to attract investments. Shale oil breakeven price is pegged at $30-$40 per barrel in domestic fields.