Page 54 - Policy & Economic Report - July 2025

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has been awarded after 2014, reflecting the confidence these reforms have inspired among investors
and explorers alike.

Emphasising the importance of scientific exploration, the Minister said the Government has made
sustained investments in geoscientific data generation through initiatives such as Mission Anveshan,
the National Seismic Programme, the Extended Continental Shelf Survey, the National Data
Repository and the Hydrocarbon Resource Assessment Study, creating one of the world's most
comprehensive geoscientific databases to unlock India's frontier basins.

Highlighting the progress achieved under the Government's exploration reforms, Shri Puri said that
under OALP, 172 exploration blocks covering nearly 3.8 lakh square kilometres have been awarded
with committed investments exceeding USD 4.3 billion. During FY 2025-26 alone, around 674 wells
were drilled, five new discoveries were made and seven discoveries were monetised.

The Minister said the Government's strategy is two-fold—discovering new hydrocarbon resources
while maximising recovery from existing national assets. He added that efforts are also underway to
revitalise mature producing fields through the deployment of advanced technologies and global best
practices. The Minister emphasised that India's energy future will not be secured by a single discovery
but through sustained reforms, cutting-edge technology, scientific exploration and the dedication of
thousands of geologists, engineers, scientists and offshore professionals.

Congratulating ONGC, Oil India Limited, the Directorate General of Hydrocarbons, technical partners
and the entire exploration fraternity, Shri Puri expressed confidence that commencement of drilling
would further strengthen India's offshore exploration efforts and contribute to the country's long-
term energy security and goal of energy self-reliance.

3. Government hikes windfall tax on diesel, ATF; cuts levy on petrol exports

The government has increased the windfall gains tax on exports of diesel and ATF, while lowering the
levy on petrol for the fortnight beginning Thursday (July 16, 2026). The rate of Special Additional Excise
Duty (SAED) on diesel exports has been increased to ?15.5 a litre from ?8.5 a litre. Similarly, SAED on
ATF exports has been raised to ?14.5 per litre from ?7.5 per litre till Wednesday (July 15, 2026).
However, the export duty on petrol has been cut to ?2.5 per litre, from ?4 per litre. The Finance
Ministry, in a notification, said the duty hikes will be effective from July 16.

July 2026 4. E20 rollout based on scientific validation and extensive stakeholder consultation
PIB in its report has brought out that the Ethanol Blended Petrol (EBP) Programme has been
implemented through a phased, scientifically validated and consultative process involving NITI Aayog,
automobile manufacturers, Oil Marketing Companies (OMCs), Automotive Research Association of
India (ARAI), Society of Indian Automobile Manufacturers (SIAM), Indian Institute of Petroleum (IIP)
and other technical institutions.

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