- Petroleum and Natural Gas Regulatory Board (PNGRB) is the only statutory body for the Petroleum and Natural Gas Sector which has been constituted under the PNGRB Act, 2006 on 1st October, 2007.
- The objective of PNGRB is 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.
- 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.
- The appeals against the decisions of the Board go before the Appellate Tribunal established under the Electricity Act, 2003.
Why in News?
- The Petroleum and Natural Gas Regulatory Board has started inviting bids for development of the city gas distribution network in 65 geographical areas covering 208 districts across the country.