India cuts onshore crude oil royalty rates

India cuts onshore crude oil royalty rates boosting profitability for producers. The new rates reduce royalty from 12.5% to 5%, significantly lowering costs for ONGC, Oil India, and Vedanta. This move aims to boost domestic output and reduce import dependence. Higher production and margins expected going forward.

📊 STOCKS: ONGC, OIL, VEDL | 🏢 SECTOR: Energy | #HIGHIMPACT #Energy