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Bill for Oil and Gas Policy Stability
August 10 , 2024
107 days
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- The Oilfields (Regulation and Development) Amendment Bill, 2024 was introduced in Rajya Sabha.
- It aims to boost investor sentiment by addressing many long-held concerns.
- The Bill has proposed to replace "mining leases" with "petroleum leases".
- The Bill also allows for a dispute resolution mechanism "in a place within India or outside
- The Bill seeks to decriminalise the breach of petroleum law and introduces financial penalties instead.
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