Current Affair 1:

What is the status of Bill?

The Oilfields (Regulation and Development) Amendment Bill, 2024 was introduced in Rajya Sabha on August 5, 2024.  The Bill amends the Oilfields (Regulation and Development) Act, 1948.  The Act regulates the exploration and extraction of natural gas and petroleum.

Reall all provisions from PRS Legislature website:

Definition of mineral oils expanded: 

The Act defines mineral oils to include petroleum and natural gas. 

The Bill expands the definition to include: (i) any naturally occurring hydrocarbon, (ii) coal bed methane, and (iii) shale gas/oil.  It clarifies that mineral oils will not include coal, lignite or helium.

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