The Petroleum and Natural Gas Regulatory Board Act, 2006

Country / jurisdiction: India · Year: 2006 · Status: In force · Level: National · Type: Voluntary

Establishes the Petroleum and Natural Gas Regulatory Board for the regulation of the mid- and downstream oil and gas segments, ensuring supply, competitive markets and consumers’ rights. It has the function of registering market entities and installations, regulating access to pipelines and associated rates, monitoring prices and taking corrective measures to prevent restrictive trade practices, laying down technical standards and specifications – including those with reference to safety issues – among other powers and duties respective to its mandate. Also, the board shall maintain a data bank and information system relating to the activities it regulates, having the faculty of verifying the data supplied by related entities and carrying out inspections of facilities and documentary records.

Official source: http://petroleum.nic.in/sites/default/files/regbill_0.pdf