Certificate on Petroleum Resources Bill endorsed by Speaker

Speaker Mahinda Yapa Abeywardana today endorsed the certificate on the Petroleum Resources Bill.

The Bill was taken for debate in Parliament on the 6th and was passed without a vote.

The Bill seeks to establish the Petroleum Development Authority, to formulate a National Policy on the Emissions Petroleum Industry, and to enact provisions relating to the maximum economic value of local petroleum resources through modern exploration, development, production and management practices in Sri Lanka and related matters.

Accordingly, the Petroleum Resources Act No. 21 of 2021 will come into effect from today (08). (Colombo Gazette)


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