CABINET NOD FOR NEW OIL AND GAS

INDUSTRY BILL

The government is in the process of drafting a new Bill to regulate the oil and gas industry, a Minister said yesterday. Energy Minister Udaya Gammanpila told the Daily Mirror in an interview that the Cabinet had approved the oil and gas policy submitted by him.

“I received the Cabinet nod. Secondly, I will introduce a Bill to set up a council which has energy, financial and legal experts in addition to bureaucrats. Thirdly, we are in the process of drafting a new Bill to regulate the oil and gas industry. After completing these three steps, we will go for international bidding. I am very much confident that all big players will participate in it,” he said.