New rules to transform India's oil and gas sector
after close1 source ↓written by the desknot a recommendation
- are decided
- 180 days
Union Petroleum and Natural Gas Minister Hardeep Singh Puri announced that the Petroleum and Natural Gas Rules 2025 will significantly enhance domestic hydrocarbon production and energy security. The Oilfields Amendment Act clarifies lease value disputes, ensuring applications for petroleum leases are decided within 180 days. This regulatory shift may boost investor confidence in the sector.
• ONGC's oil discovery in West Bengal remains stalled due to lease value disputes.
• New rules aim to expedite approvals and production timelines.
Not investment advice. For informational purposes only.