Royalty on offshore crude production has also been reduced to 8% from 9.09%, while the royalty rate on natural gas has been cut to 8% from 10% following the introduction of a new flat deduction formula.
Royalty on offshore crude production has also been reduced to 8% from 9.09%, while the royalty rate on natural gas has been cut to 8% from 10% following the introduction of a new flat deduction formula.