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A bill to amend the existing law governing exploration and production of oil and gas will provide policy stability to investors as also promote ease of doing business, Oil Minister Hardeep Singh Puri said on Friday. Speaking at the Geo India 2024 conference in Greater Noida, on the outskirts of the national capital, the minister said the government's reforms agenda to make it easier to find and produce crude oil (which is refined into fuels like petrol and diesel) and natural gas (which is used to generate power, make fertilizer or turned into cooking gas and CNG) will continue. He promised interference-free administration. "If you have a private sector company which is family owned, you still have interference. But if you have well run state oil companies as our oil firms are, and you have a minister like me, you will have zero interference. I have said that repeatedly," he said. The Oilfields (Regulation and Development) Amendment Bill, 2024 was introduced in the Rajya Sabha in .
Libya's state-owned oil company resumed production at the country's largest oilfield Sunday, ending a more than two-week hiatus after protesters blocked the facility over fuel shortages. The National Oil Corp. said in a terse statement that it lifted the force majeure at the Sharara oil field in the country's south and resumed full production. It didn't provide further details. Force majeure is a legal maneuver that releases a company from its contractual obligations because of extraordinary circumstances. The company had activated the maneuver on Jan. 7 after protesters from the desert town of Ubari, about 950 kilometers (590 miles) south of the capital, Tripoli, shut down the field to protest fuel shortages. Over the past two weeks the company's chief, Farhat Bengdara, and military officials from eastern Libya have been negotiating with the protest leaders, Fezzan Group. Barzingi al-Zarrouk, the protesters' spokesman, announced that they have suspended their protest after they ..