Oil and Gas Production Stuck in Regulatory Mire

State-run oil companies appear caught between the devil and the deep blue sea -while rising price of crude and fuel price revisions threaten to render them bankrupt, bureaucratic apathy is holding up any possible increase in oil and gas production. ET turns the spotlight on four major oil and gas fields where production and other critical development works are stuck due to lack of regulatory approvals. Cairn India, which is developing three oilfields in the Rajasthan block, India's largest oilfields on land, has not been able to start production at Bhagyam for want of necessary approvals.

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