PNGRBB gets GoM approval

The Petroleum and Natural Gas Regulatory Board Bill PNGRBB has been approved by the Group of Ministers GoM and the petroleum ministry now plans to put up this Bill for the approval of the Cabinet by next week. The Bill would be tabled in the Parliament in the winter session with an aim to have the a regulatory structure in place by may next year.

Speaking at the Economic Editors8217; conference on Thursday, petroleum secretary, S.C. Tripathi said the regulator will be in place by April next year. 8216;8216;The new regulator would handle the downstream sector and monitor oil refining and marketing companies. The directorate general of Hydrocarbons DGH, which is already operational, may be made a statutory body and would look after upstream segment,8217;8217; he said.