The Review of the Petroleum Act of 1938 and Regulations has been approved by Cabinet.
Prime Minister Sitiveni Rabuka says the Act provides the private sector to supply, transport and store fuel.
He says the 85-year-old law, first enacted as a colonial ordinance in 1938, is archaic and outdated.
Rabuka says the Act requires updating to meet modern-day challenges in the petroleum sector, including market and technological developments, national and global climate change commitments, and to remove certain lack of clarity in the existing Act.
He adds a Technical Working Group, including key stakeholders will be formed to guide the direction of the review.
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