Correct option is C
The correct answer is option (C) mining
- In August 2024, the Central Government introduced the Oilfields (Regulation and Development) Amendment Bill, 2024 in the Lok Sabha to delink petroleum operations from mining operations.
Key Features of the Amendment:
- Delinking Petroleum and Mining Operations: The amendment aims to separate petroleum operations from mining activities, streamlining the regulatory framework for oil and gas exploration and production.
- Expanded Definition of Mineral Oils: The definition now includes naturally occurring hydrocarbons, coal bed methane, and shale gas/oil, excluding coal, lignite, and helium.
- Introduction of Petroleum Lease: The concept of a "petroleum lease" replaces the mining lease, covering activities such as prospecting, exploration, development, production, and disposal of mineral oils.
- Enhanced Rule-Making Powers: The central government gains authority to regulate lease mergers, facility sharing, environmental protection, and dispute resolution.
- Decriminalization and Penalties: The amendment replaces imprisonment provisions with financial penalties for violations, with continued violations attracting additional daily penalties.