Petroleum and Natural Gas Regulatory Board
- December 19, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Petroleum and Natural Gas Regulatory Board
Subject – Economy
Context – City gas licensing round draws 430 bids
Concept –
- It is a statutory body in India, constituted under the act of Parliament of India, namely Petroleum and Natural Gas Regulatory Board Act, 2006.
- Its primary functions include regulation of refining, transportation, distribution, storage, marketing, supply and sale of petroleum products and natural gas.
- PNGRB authorises the CGD networks, natural gas and petroleum product pipelines, determines tariff, lays down the technical and safety standards etc.
- Entities will have to register with the PNGRB to market petroleum products and natural gas, operate LNG terminals and establish storage facilities beyond specified capacity.
- The PNGRB will have the same powers as a civil court to settle disputes. The Appellate Tribunal under the Electricity Act will serve as the Appellate Tribunal for this Act.