Summary

Passed By the Rajya Sabha on 3 December 2024.

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.

• Definition of mineral oils expanded
• Introduction of petroleum lease
• Rule making powers of the central government
• Decriminalisation of offences
• Adjudication of penalties