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Terming the Cairn-Vedanta deal as “murky and mysterious”, the Petroleum and Gas Workers Federation of India has urged the Government to review its decision. The Federation called upon its members to put pressure on the Government to grant public sector ONGC the “first right” to acquire Cairn stake, as a major stakeholder in the Mangala Oilfields in Rajasthan. It assailed the Government for agreeing to a profit sharing contract under which Rs 18,000 crore royalty and Rs 13,000 crore cess will become “cost recoverable” leading to a “huge loss” of revenue in a strategically vital sector of the economy.
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