Oilfields Amendment Bill 2024:
The Oilfields (Regulation and Development) Amendment Bill, 2024 was passed by the Rajya Sabha, aiming to encourage domestic production of petroleum and mineral oils while attracting private investment.This bill seeks to amend the existing Oilfields Act of 1948 by clearly delineating the governance of oil production from mining activities.The Bill broadens the definition of mineral oils to include naturally occurring hydrocarbons (such as petroleum and natural gas), as well as coal bed methane and shale gas/oil.
