PNGRB introduces penalties of up to Rs 1 crore for regulatory violations

New Delhi, Oct 20 (UNI) The Petroleum and Natural Gas Regulatory Board (PNGRB) has tightened compliance requirements for oil and gas operators, introducing civil penalties of up to Rs 1 crore for each regulatory violation and an additional Rs 10 lakh for every day a default continues. The regulator has also introduced a revised annual fee structure for refineries, LNG terminals, LPG bottling plants and gas processing units, along with new charges for reducing performance bank guarantees, seeking repeated extensions of pipeline project deadlines and obtaining dedicated pipeline connectivity. The Petroleum and Natural Gas Regulatory Board (Levy of Fee and…