Q. Consider the following activities:
1.Production of crude oil
2.Refining, storage and distribution of petroleum
3.Marketing and sale of petroleum products
4.Production of natural gas
How many of the above activities are regulated by the Petroleum and Natural Gas Regulatory Board in our country?
Exp) Option b is the correct answer.
The Petroleum and Natural Gas Regulatory Board (PNGRB) was constituted under the Petroleum and Natural Gas Regulatory Board Act, 2006. The Act provides for the establishment of a Petroleum and Natural Gas Regulatory Board to protect the interests of consumers and entities engaged in specified activities relating to petroleum, petroleum products and natural gas and to promote competitive markets.
Only options 2 and 3 are correct. As per the Petroleum and Natural Gas Regulatory Board Act, the board has been mandated to regulate the refining, processing, storage, transportation, distribution, marketing and sale of petroleum, petroleum products and natural gas excluding production of crude oil and natural gas. It thus aims to ensure uninterrupted and adequate supply of petroleum, petroleum products and natural gas in all parts of the country.
Source– PIB
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