News Release Details
Petroleum & natural gas regulatory board established .
New Delhi 04-Jul-2007
With the issuance of notification by the Ministry of Petroleum & Natural Gas under section 3(1) of the Petroleum & Natural Gas Regulatory Board Act, 2006, the Petroleum & Natural Gas Regulatory Board (PNGRB) has been formally established by the Government. Sh. Labayendu Mansingh has taken over as the first Chairperson of the Board and Sh. L.K. Singhvi, Sh.B.S. Negi and Smt. Sudha Mahalingam have joined as Members of the Board. The Government has also approved the appointment of Sh.Y.P.C. Dangay as Member(Legal) of the Board and he is likely to join the Board soon. As per the statute, the PNGRB will regulate the downstream activities in the Petroleum & Natural Gas sector, viz. refining, processing, storage, transportation, distribution, marketing and sale of petroleum, petroleum products and natural gas so as to protect the interests of consumers and entities engaged in specified activities relating to petroleum, petroleum products and natural gas and to ensure uninterrupted and adequate supply of petroleum, petroleum products and natural gas in all parts of the country and to promote competitive markets. The functions of the Board include registration of entities to – market notified petroleum, petroleum products and natural gas, establish and operate LNG Terminals and establish storage facilities beyond a certain capacity as may be specified by regulations, and authorize entities to – lay build, operate or expand a common carrier or contract carrier or city gas distribution network. In respect of notified petroleum, petroleum products and natural gas, the Board shall ensure adequate availability and display of retail selling prices at the retail outlets, monitor prices and transportation rates for common carrier or contract carrier, and take corrective measures to prevent restrictive trade practices and enforce retail service obligations for retail outlets and marketing service obligations for entities. The Board shall also maintain a data bank of information on down stream activities in the petroleum & natural gas sector and lay down the technical standards and specifications including safety standards.
New Delhi 04-Jul-2007
With the issuance of notification by the Ministry of Petroleum & Natural Gas under section 3(1) of the Petroleum & Natural Gas Regulatory Board Act, 2006, the Petroleum & Natural Gas Regulatory Board (PNGRB) has been formally established by the Government. Sh. Labayendu Mansingh has taken over as the first Chairperson of the Board and Sh. L.K. Singhvi, Sh.B.S. Negi and Smt. Sudha Mahalingam have joined as Members of the Board. The Government has also approved the appointment of Sh.Y.P.C. Dangay as Member(Legal) of the Board and he is likely to join the Board soon. As per the statute, the PNGRB will regulate the downstream activities in the Petroleum & Natural Gas sector, viz. refining, processing, storage, transportation, distribution, marketing and sale of petroleum, petroleum products and natural gas so as to protect the interests of consumers and entities engaged in specified activities relating to petroleum, petroleum products and natural gas and to ensure uninterrupted and adequate supply of petroleum, petroleum products and natural gas in all parts of the country and to promote competitive markets. The functions of the Board include registration of entities to – market notified petroleum, petroleum products and natural gas, establish and operate LNG Terminals and establish storage facilities beyond a certain capacity as may be specified by regulations, and authorize entities to – lay build, operate or expand a common carrier or contract carrier or city gas distribution network. In respect of notified petroleum, petroleum products and natural gas, the Board shall ensure adequate availability and display of retail selling prices at the retail outlets, monitor prices and transportation rates for common carrier or contract carrier, and take corrective measures to prevent restrictive trade practices and enforce retail service obligations for retail outlets and marketing service obligations for entities. The Board shall also maintain a data bank of information on down stream activities in the petroleum & natural gas sector and lay down the technical standards and specifications including safety standards.