Minister tables oilfield regulation bill in RS

  • 03/12/1998

  • Economic Times (New Delhi)

A bill on oilfield regulation to make changes in royalty payments for attracting a higer flow of foreign direct investment in oil exploration and production was tabled in the Rajya Sabha by the petroleum minister, Mr. V.K. Ramamurty. The oilfield regulation bill, passed by the Lok Sabha yesterday, is expected to help cut down the oil import bill by enhancing domestic production through incentives to producers.