New Delhi, May 12 -- Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on Monday announced rationalisation of royalty for India's upstream sector.

In a post on social media platform X, Puri wrote, "This landmark decision will be a major step toward regulatory clarity. Following the historic 2025 amendments to the ORD Act & PNG Rules, the Government has rationalized royalty rates and methodologies for Crude Oil, Natural Gas, and Casing Head Condensate. The revised Schedule removes long-standing inconsistencies across regimes to ensure a stable, predictable, and investor-aligned framework for India's upstream sector."

In simple terms, this means that the Centre has changed the rules for how companies pay the government for ex...