Politics

Legislators continue debating revised Petroleum Law

Lawmakers attending the third session of the 15th National Assembly on June 15 debated the draft Petroleum Law (revised).
Legislators continue debating revised Petroleum Law ảnh 1Deputy Minister of Industry and Trade Dang Hoang An (standing) speaks at the session. (Photo: VNA)
Hanoi (VNA) – Lawmakers attending the third session of the 15th National Assembly on June 15 debated the draft Petroleum Law (revised).

After listening to deputies’ ideas, DeputyMinister of Industry and Trade Dang Hoang An, on behalf of the bill compilingagency, delivered a report summarising the opinions and explaining a number ofissues.

Regarding the coverage of the bill, An saidthat it does not regulate middle and downstream oil and gas activities as only upstreamoil and gas activities have the typical characteristics that must be regulatedby specialised laws.

For investment projects that areimplemented in chain, which require the construction of a series of road systemsfor the development of upstream oil and gas fields, the official said that thecompiling agency will coordinate with verification agencies to ensureproper coverage of the bill.

An also explained a numberof issues related to oil and gas exploration, oil and gas contracts, incentivesin oil and gas activities and State management in the field, as well asregulations on environmental protection and supervision and investigationmechanisms.

Legislators continue debating revised Petroleum Law ảnh 2NA Vice Chairman Nguyen Duc Hai concludes the discussion. (Photo: VNA)
Concluding the discussion, NA Vice ChairmanNguyen Duc Hai said that 23 legislator gave their ideas on the bill, themajority of whom agreed on the necessity of the law in fully institutionalisingthe Party and State’s policies on developing the oil and gas sector, ensuringenergy security, removing current problems in the field, synchronising thelegal system, strengthening effectiveness and enforcement of State managementover oil and gas, promoting decentralisation and creating a smooth legal framework forinvestors in the field.

According to the NA Vice Chairman,deputies also discussed a wide range of issues related to the bill, includingits name, its coverage, policies to attract resources from economic sectors, measuresto increase oil and gas reserve, and the diversification of new power sources.

The NA General Secretary will make a summaryreport and send to NA deputies and relevant agencies, he added.

Hai underlined that the NA Standing Committee will direct the NA EconomicCommittee and relevant agencies to continue to collect ideas to complete thebill, which will continue to be debated at the NA’s fourth session./.
VNA
#15th National Assembly #draft Petroleum Law #Deputy Minister of Industry and Trade Dang Hoang An #upstream oil and gas activities #Vietnam #Vietnam news #Vietnam News Agency
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