New Delhi, Dec 12: Union Petroleum and Natural Gas Minister Hardeep Singh Puri announced the amendments to the Petroleum and Natural Gas Rules, 2025, aimed at facilitating business operations.
Key changes include the provision of broader rights under a single petroleum lease for various mineral oil operations, decarbonization projects, and a mandated decision on lease applications within 180 days.
Long-term leases of up to 30 years can be granted, with extensions possible based on field economics. Lessees must annually report their infrastructure capacities and can collaboratively develop infrastructure.
New regulations establish New Delhi as the arbitration seat for domestic disputes while allowing for neutral arbitration in cases involving foreign companies. Enhanced penalties for violations now reach Rs 25 lakh, escalating to Rs 10 lakh per day for ongoing infractions.
