Consider the following activities:

1. Production of crude oil
2. Refining, storage and distribution of petroleum
3. Marketing and sale of petroleum products
4. Production of natural gas

How many of the above activities are regulated by the Petroleum and Natural Gas Regulatory Board in our country?

1. Only one
2. Only two
3. Only three
4. All four

Explanation

Only activities II and III are regulated by PNGRB

• The Petroleum and Natural Gas Regulatory Board (PNGRB) was constituted under the Petroleum and Natural Gas Regulatory Board Act, 2006. The Act provides for the establishment of PNGRB to protect the interests of consumers and entities engaged in specified activities relating to petroleum, petroleum products, and natural gas, and to promote competitive markets, and for matters connected therewith or incidental thereto.
• Further, as enshrined in the act, the board has also been mandated to regulate the refining, processing, storage, transportation, distribution, marketing and sale of petroleum, petroleum products and natural gas, excluding production of crude oil and natural gas, so as to ensure uninterrupted and adequate supply of petroleum, petroleum products and natural gas in all parts of the country.

Answer: (b) Only two; Difficulty Level: Hard