GOVT NOTIFIES FDI NORMS IN PETROLEUM

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The Government on Wednesday notified the liberalised foreign direct invetsment norms in petroleum and publication of scientific journals.

A notification allowing FDI of up to 100 per cent on the automatic route in petroleum product market, oil exploration in both small and medium sized fields and petroleum product pipeline was issued, a Government press release said.

FDI up to 100 per cent has been allowed in natural gas/LNG pipelines with prior Government approval.

The Government also issued a notification for FDI up to 100 per cent in printing scientific and technical magazines, periodicals and journals.

The FDI in the sector would have to comply with the legal framework and guidelines framed by Ministry of Information and Broadcasting. FDI in this sector would be permissible with the prior Government approval.

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