Consider the following activities : I. Production of crude oil II. Refining, storage and distribution of petroleum III. Marketing and sale of petroleum products IV. Production of natural gas How many of the above activities are regulated by the Petroleum and Natural Gas Regulatory Board in our country?
Explanation:
The Petroleum and Natural Gas Regulatory Board (PNGRB) was established under the PNGRB Act, 2006, to regulate the refining, processing, storage, transportation, distribution, marketing, and sale of petroleum, petroleum products, and natural gas. I. Production of crude oil: This activity falls under the purview of the Ministry of Petroleum and Natural Gas and is governed by exploration and production policies, not directly regulated by PNGRB. II. Refining, storage and distribution of petroleum: These activities are explicitly within the regulatory scope of PNGRB. III. Marketing and sale of petroleum products: These activities are also explicitly regulated by PNGRB. IV. Production of natural gas: Similar to crude oil, the production of natural gas is primarily governed by the Ministry's policies and contracts, not directly by PNGRB. Therefore, only activities II and III are regulated by the PNGRB, which means 'Only two' activities.