The Petroleum and Natural Gas Regulatory Board (PNGRB) has been officially tasked with ensuring the safety and integrity of the downstream petroleum and natural gas sector. A key strategy will involve the establishment of a committee set to interact and seek information from various industry stakeholders. This committee will not only act as a regulatory body, but also a collaborative platform allowing for communication, the exchange of ideas and ultimately, the optimisation of safety protocols within the sector.
1. The Petroleum and Natural Gas Regulatory Board (PNGRB) is officially tasked with ensuring safety and integrity in the downstream petroleum and natural gas sector.
2. PNGRB plans to establish a committee to interact and seek information from various industry stakeholders, acting as a regulatory body and a platform for communication and idea exchange.
3. The committee aims to oversee and maintain safety and integrity within the sector, by establishing open lines of communication and actively engaging with relevant parties to gather in-depth information.
4. Through proactive rather than reactive interaction, the committee aims to address potential areas of concern within the sector, allowing for preemptive safety measures and solutions.
5. Balancing economic growth and environmental responsibilities within the sector, the committee, equipped with regulatory authority, stands as a crucial component of the downstream petroleum and natural gas sector.
According to the Petroleum and Natural Gas Regulatory Board (PNGRB), there were 529 registered entities involved in the downstream petroleum and natural gas sector in India as of March 2021.
The committee, as entrusted by PNGRB, is tasked to oversee and maintain the safety and integrity of the downstream petroleum and natural gas sector. They are expected to establish open lines of communication and actively engage with relevant parties to gather in-depth information and derive practical measures. This proactive interaction seeks to comprehensively address potential areas of concern or weakness within the sector, enabling preemptive solutions rather than reactive responses. Equipped with regulatory authority, the committee provides an essential balancing act between economic growth and environmental responsibilities in the petroleum and natural gas sector.