PETROLEUM: PNGBR ACT
published in B&E 27 july 2007
A class ‘Act’
Make oil & Gas supplies consumer & climate friendly
The Government has finally woken up to the long pending demand of the consumers as well as the industry to constitute a Petroleum & Natural Gas Regulatory Board. The enactment of the Petroleum & Natural Gas Regulatory Board Act, 2006 (PNGRB Act, 2006) had become essential, due to the flooding of the sector by domestic and foreign oil giants. Furthermore, with the needs and demand for energy security growing at a phenomenal rate, it is imperative that the country has appropriate laws to regulate the refining, processing, storage, transportation, distribution, marketing and sale of petroleum products and natural gas. The Act would not be applicable to the production of crude oil and natural gas (Gas pricing will also not be under the jurisdiction of the Board). Labayendu Mansingh, former director general of foreign trade, has being appointed to head the Board. Other members of the board are LK Singhvi, former chief commissioner of Income Tax in Delhi, BS Negi, former director business development of GAIL & Sudha Mahalingam, a noted academician & energy expert. The board’s agenda is well defined in the Act. “The protection of consumer interest will be paramount for the board. We will ensure that the policies are implemented in letter and spirit by all parties concerned,” said Sudha Mahalingam, one of the members of the newly constituted board, in an exclusive chat with B&E. Apart from keeping consumers in the mind, the Board will also concentrate on creating a competitive environment in the Petroleum & Natural Gas sector. The quest to meet India’s growing energy needs and ensuring un-interrupted supplies do not result in destruction of the environment, should always remain on the minds of the Board members.
The Government has finally woken up to the long pending demand of the consumers as well as the industry to constitute a Petroleum & Natural Gas Regulatory Board. The enactment of the Petroleum & Natural Gas Regulatory Board Act, 2006 (PNGRB Act, 2006) had become essential, due to the flooding of the sector by domestic and foreign oil giants. Furthermore, with the needs and demand for energy security growing at a phenomenal rate, it is imperative that the country has appropriate laws to regulate the refining, processing, storage, transportation, distribution, marketing and sale of petroleum products and natural gas. The Act would not be applicable to the production of crude oil and natural gas (Gas pricing will also not be under the jurisdiction of the Board). Labayendu Mansingh, former director general of foreign trade, has being appointed to head the Board. Other members of the board are LK Singhvi, former chief commissioner of Income Tax in Delhi, BS Negi, former director business development of GAIL & Sudha Mahalingam, a noted academician & energy expert. The board’s agenda is well defined in the Act. “The protection of consumer interest will be paramount for the board. We will ensure that the policies are implemented in letter and spirit by all parties concerned,” said Sudha Mahalingam, one of the members of the newly constituted board, in an exclusive chat with B&E. Apart from keeping consumers in the mind, the Board will also concentrate on creating a competitive environment in the Petroleum & Natural Gas sector. The quest to meet India’s growing energy needs and ensuring un-interrupted supplies do not result in destruction of the environment, should always remain on the minds of the Board members.
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