Oilfields Bill 2024: A Historic Leap for India's Energy Sector
The Oilfields (Regulation and Development) Amendment Bill, 2024, has been passed in the Rajya Sabha. The legislation aims to enhance energy security by amending laws related to oil and gas exploration. Prime Minister Modi and Oil Minister Hardeep Singh Puri hailed its passage as a milestone for India's energy future.
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On Tuesday, Prime Minister Narendra Modi referred to the recently passed Oilfields (Regulation and Development) Amendment Bill, 2024, as pivotal for boosting energy security in India.
The legislation, which aims to amend the current framework governing the exploration and production of oil and gas, received approval in the Rajya Sabha.
According to Oil Minister Hardeep Singh Puri, the amendments represent a historic advancement for India's burgeoning energy sector, fostering investment and growth.
(With inputs from agencies.)
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