Gazette Information

Gazette Title

The Gazette of India Extraordinary

Gazette Number

No. 15

Publication Date

August 5, 2024

Issuing Authority

Rajya Sabha

Summary

• A Bill further to amend the Oilfields (Regulation and Development) Act, 1948 has been introduced.
• The Bill aims to enhance energy access, security, and affordability in India.
• It seeks to attract investment in the petroleum sector and expedite operations.
• Key amendments include the introduction of "petroleum lease" and delinking petroleum operations from mining operations.
• Provisions for penalties and adjudication have been included to ensure compliance.
• The Bill promotes the development of comprehensive energy projects alongside mineral oils.