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Brief
The Oilfields (Regulation and Development) Amendment Bill, 2024 has been Assented by the Parliament of India on 05/08/2024. The bill seeks to amend the Oilfields (Regulation and Development) Act, 1948, delinking petroleum operations from mining operations and broadening the scope of mineral oils. This amendment aims to increase domestic production of oil and gas, attract investment in the sector, and promote ease of doing business while ensuring compliance with new rules and regulations.
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