New Delhi, March 12 -- In a major development in Parliament, the Lok Sabha passed the Oilfields (Regulation and Development) Amendment Bill 2024 on Wednesday.

The Bill is set to amend the Oilfields (Regulation and Development) Act, 1948 which regulates the exploration and extraction of natural gas and petroleum.

Expressing his happiness over the passing of the bill in the lower house, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri in a social media post X wrote, "Historic day in India's quest towards energy security and energy self-sufficiency under the dynamic and firm leadership of PM Narendra Modi. Oilfields (Regulation and Development) Amendment Bill 2024 successfully passed in Lok Sabha today."

He added that thes...