Context:
Oilfields (Regulation and Development) Amendment Bill, 2024 introduced in Rajya Sabha.
Oilfields (Regulation and Development) Act, 1948:
- Originally regulated through – Mines and Minerals (Regulation and Development) Act, 1948.
- Key features of the Bill –
- Broadening the scope of the expression mineral oils.
- Mineral oil – Refers to any naturally occurring hydrocarbon, including crude oil, natural gas, petroleum, condensate, coal bed methane, oil shale, shale gas, etc.
- Refers a lease for the purpose of prospecting, exploration, development, production, making merchantable, carrying away or disposing of mineral oils.
- Delinking of petroleum operations from mining operations.
- Broadening the scope of the expression mineral oils.
- Providing for efficacious dispute resolution and decriminalizing the provisions of the Act.
Source: Economic Times
Previous Year Question
With reference to India, consider the following statements:
1. Monazite is a source of rare earths.
2. Monazite contains thorium.
3. Monazite occurs naturally in the entire Indian coastal sands in India.
4. In India, Government bodies only can process or export monazite.
[UPSC Civil Services Exam – 2022 Prelims]
Which of the statements given above is/are correct?
(a) 1, 2 and 3 only
(b) 1, 2 and 4 only
(c) 3 and 4 only
(d) 1, 2, 3 and 4
Answer: (b)
