Question : PETROLEUM REGULATORY AUTHORITY

(a) whether an independent Petroleum Regulatory Authority will be constituted by early next year ;

(b) whether the Government is also putting 21 new oil and gas exploration blocks for bidding in January 2005 ;

(c) if so, whether the Government has already cleared for introduction of a bill for regulatory ;

(d) the role of this Authority in the international market ;

(e) whether the Government would also be restructuring the directorate general of hydrocarbons in order to improve the upstream business ; and

(f) the extent to which this oil and gas regulators will be helpful for the petroleum products in the country ?

MINISTER OF PETROLEUM & NATURAL GAS & PANCHAYATI RAJ ( SHRI MANI SHANKAR AIYAR )

(a), (c), (d) & (f) : The Government propose to set up a Petroleum and Natural Gas Regulatory Board to ensure uninterrupted and adequate supply of petroleum, petroleum products , and natural gas to all parts of the country including remote areas, at fair prices and to establish sectoral regulations to ensure competition, protect consumers and encourage investment as well as take action against violation of Rules and Regulations of the Board. The details of the proposal will be made public when the revised draft legislation is tabled in the Houses of Parliament.

(b) : Yes, Sir. Government of India is putting 20 exploration blocks for offer under global bidding in NELP Round-V.

(e): Owing to the increasing number of contracts and the work load this involves, Government are reviewing the functional requirements of the Directorate General of Hydrocarbons with the objective of improving operational efficiency and taking the required steps to meet such requirements.