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"Historic Day" Hardeep Singh Puri lauds clearing of Oilfields Amendment Bill in LS
The Business Guardian
|March 13, 2025
In a major development in Parliament, the Lok Sabha passed the Oilfields (Regulation and Development) Amendment Bill 2024 on Wednesday.
The Bill is set to amend the Oilfields (Regulation and Development) Act, 1948 which regulates the exploration and extraction of natural gas and petroleum.
Expressing his happiness over the passing of the bill in the lower house, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri in a social media post X wrote, "Historic day in India's quest towards energy security and energy self-sufficiency under the dynamic and firm leadership of PM Narendra Modi. Oilfields (Regulation and Development) Amendment Bill 2024 successfully passed in Lok Sabha today."
He added that these amendments made in the existing legislation will further strengthen and propel India's energy sector and ensure policy stability, international arbitration, extended lease periods etc.
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