Centre denies oil exploration off Kochi coast

Saturday, March 24, 2012: The Centre denied permission for oil exploration on Kochi coast citing loss. This was stated in the finance committee report.
The profit reaped by various companies on Kochi coast was only 6.7 percent and hence the centre rejected permission.
ONGC and BPRL too had sought permission for oil exploration there. The centre also rejected 14 applications meant for various projects, including mining, in Andamans. The centre gave approval for mining activities in 16 places.