The government will hold pre-emption rights over all oil and natural gas produced in the country in any event of national emergency, according to draft rules being framed under a revamped oilfields legislation.A pre-emption right( or preemptive right) is the legal right of a party-often a government or existing shareholder-to purchase or claim a product, asset, or resource before it is offered to others. The inclusion of such rights over crude oil-extracted from underground or beneath the seabed
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2025-05-11 00:00:00.0