The Bill is set to amend the Oilfields (Regulation and Development) Act, 1948 which regulates the exploration and extraction of natural gas and petroleum.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday expressed his happiness over the passage of Oilfields (Regulation and Development) Amendment Bill, 2024 in the Rajya Sabha, calling it a "historic step into the future."
The bill was introduced by Union petroleum and natural gas minister Hardeep Singh Puri for consideration and passing. The Bill will regulate the exploration and extraction of natural gas and petroleum. The amended bill expands the definition of mineral oils to include petroleum and natural g
The salient features of the amendments proposed in the said Bill, introduced in the Upper House today, are delinking petroleum operations from mining operations; broadening the scope of the expression 'mineral oils'; introducing the concept of "petroleum lease"; and granting lease on stable
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri is set to introduce the Oilfields (Regulation and Development) Amendment Bill, 2024 in Rajya Sabha on Monday to amend the Oilfields (Regulation and Development) Act,1948.