Prime Minister Sitiveni Rabuka says Cabinet approved the review of the Petroleum Act 1938 (Act) and Regulations.
In a statement released by the Office of the Prime Minister, Rabuka said the Act provides for the private sector to supply, transport and store fuel.
Rabuka said the 85-year-old law, first enacted as a colonial ordinance in 1938, is archaic and outdated.
“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.”
The Prime Minister added that a Technical Working Group including key stakeholders will be formed to guide the direction of the review.