Question : REGULATORY AUTHORITY FOR OIL AND GAS INDUSTRY

(a) whether the Government propose to set up a regulatory authority to monitor the oil and gas industry in the country;

(b) if so, the details thereof;

(c) the time by which the said regulatory authority is likely to be set up; and

(d) the steps proposed to ensure that both private and public enterprises do not concentrate only in urban areas but rural areas are equally covered in setting up of outlets for proper supply and distribution ?

MINISTER OF PETROLEUM & NATURAL GAS ( SHRI RAM NAIK )

(a) to (d) : The Government plan to set up a downstream regulatory mechanism before the oil sector is completely de-regulated.

The powers, functions etc., of the proposed regulatory mechanism are yet to be finalised.