India orders oil and gas companies to furnish operational data to PPAC
→Oil and gas compliance teams must provide operations data to PPAC on demand
Change
India has mandated that all oil and gas companies must provide operational information to the Petroleum Planning and Analysis Cell (PPAC) on demand and cannot refuse requests citing commercial sensitivity.
Why it matters
Policymakers are preparing for a prolonged supply crunch and higher energy prices after attacks on Gulf energy assets. Refiners report they cannot pass rising input costs to retail consumers while the government resists approving fuel price increases.
Implications
- — Compliance teams at oil and gas companies and procurement teams at refiners and LNG importers must, immediately upon PPAC request, compile and deliver operational, cargo and inventory data to the Petroleum Planning and Analysis Cell (PPAC) — refusal constitutes breach of the government notification and exposes the firm to administrative enforcement.
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Source
View on Economic Times