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Our Bureau

New Delhi , May 3

THE draft document for the mid-term appraisal of oil public sector undertakings (PSUs) for the Tenth Plan (2002-07) has suggested modification in the Petroleum and Natural Gas Regulatory Bill, 2004 to include regulation of upstream sector.

The Petroleum Minister, Mr Mani Shankar Aiyar, on Tuesday informed the Rajya Sabha that the draft mid-term appraisal document, which is being examined by the Ministry for sending replies to the Planning Commission, has recommended laying more emphasis on trans-national pipelines and LNG imports, developing transportation and distribution assets in the oil and gas sector.

Besides, it has also suggested allowing foreign operators to bring technology and investment to recover oil and gas from currently abandoned or marginal fields on economic considerations.

The Minister said that the document draft has also recommended introduction of price competition in all petroleum products.

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