Which of the following is an advantage of the Hydrocarbon Exploration and Licensing Policy HELP over...........

Geography Energy

Which of the following is an advantage of the Hydrocarbon Exploration and Licensing Policy (HELP) over NELP i.e. New Exploration Licensing Policy?

1. HELP provides for different licenses for different Hydrocarbons like Oil, Gas, Coal Bed methane etc.

2. Under HELP the government will receive a share of total profit being made by the bidders

3. Under HELP there is marketing and pricing freedom subject to an upper ceiling.

Select the correct answer using codes given below

1 only

1 and 3 only

3 only

2 only

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Explanation:

- Statement 1: This statement is incorrect. Unlike NELP, the Hydrocarbon Exploration and Licensing Policy (HELP) introduced a uniform licensing system instead of different licenses for different hydrocarbons such as oil, gas, coal bed methane, etc.

- Statement 2: This statement is incorrect under HELP. The government does not receive a share of the total profit, unlike the previous profit-sharing model. Instead, HELP uses a revenue-sharing model where bidders share revenue.

- Statement 3: This statement is correct. HELP provides marketing and pricing freedom to producers, subject to certain conditions and an upper ceiling.

- Option 1: 1 only: Incorrect, as statement 1 is incorrect.

- Option 2: 1 and 3 only: Incorrect, as statement 1 is incorrect.

- Option 3: 3 only: Correct, as only statement 3 is correct.

- Option 4: 2 only: Incorrect, as statement 2 is incorrect.

Correct Answer: Option 3