India Intelligence Report

  New Petro & Gas Regulatory Authority


Petroleum Minister Murli Deora introduced a new Petroleum and Natural Gas Regulatory Board Bill in the Rajya Sabha (Upper House of the Parliament) to create a new regulator of downstream petroleum and natural gas investments. This bill will cover refining, processing, storage, transportation, distribution, marketing, and sale of petroleum and natural gas products. Deora said that the bill draws from a Parliamentary Committee recommendation and that he has included 47 of the 49 of them. The Parliamentary Committee had strongly recommended a regulator, which will manage a strict code of conduct in companies. These will include pipeline access code, concept of contract carriers, service obligations of city or local gas distributors, and methodology for transportation tariffs. The former National Democratic Alliance (NDA) Government had conceptualized and introduced a bill called the Petroleum Regulatory Board Bill. This bill is repackaged by the United Progressive Alliance (UPA) to include natural gas.

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