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LS Passes Bill to Boost Oil and Gas Sector
Mint Chennai
|March 13, 2025
The Proposal to Delink Petroleum Ops from Mining Is Expected to Bring in More Investments into the Sector
Parliament on Wednesday passed a bill that is expected to bring in ease of doing business in the oil and gas exploration and production sector and attract greater investments.
The Oilfields (Regulation and Development) Amendment Bill 2024, which was passed by the Lok Sabha, now awaits the President's nod to become law. Rajya Sabha had passed the bill in December 2024.
The bill's proposal to delink petroleum operations from mining is expected to bring in more investments into the sector.
Union minister for petroleum and natural gas Hardeep Singh Puri said the bill's "far-reaching amendments made in the existing legislation will further strengthen and propel India's energy sector under the leadership of PM Modi Ji, and ensure policy stability, international arbitration, extended lease period, etc."
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