(a) the relevance of OIDB after the APM is dismantled;
(b) whether OIDB benefits will be available to private sector also; and
(c) if not, the reasons therefor?
(a) the relevance of OIDB after the APM is dismantled;
(b) whether OIDB benefits will be available to private sector also; and
(c) if not, the reasons therefor?
MINISTER OF STATE FOR PETROLUEUM & NATURAL GAS AND MINISTER OF STATE IN THE MINISTRY OF
PARLIAMENTARY AFFAIRS (SHRI SANTOSH KUMAR GANGWAR)
(a) to (c) Oil Industry Development Board (OIDB) has been established under Oil Industry
Development Act, 1974 for the development of Oil Industry. The term Oil Industry, as defined
under the Act includes all activities by way of prospecting or exploring for or production of
mineral oil, refining, processing, transportation, storage, handling and marketing of mineral
oil, production and marketing of all products, down-stream of an oil refinery and the production
of fertilizers and petro-chemicals and all activities directly or indirectly connected therewith.
OIDB would continue to render its assistance for the above purpose even after dismantling of
Administered Pricing Mechanism (APM). Funding towards oil sector projects are decided by OIDB
on case to case basis, subject to the priorities determined by the Board from time to time.