The British Minister of State for Foreign Office, Hugo Swire, met Gujarat Chief Minister Narendra Modi on Wednesday. A deal was signed between the state-owned Gujarat State Petroleum Corporation Ltd and UK-based BG group to get a supply of 1.25 million tonnes of liquefied natural gas per annum starting 2015. When asked about granting Modi a UK visa, Swire said the decision is taken on an individual basis. He, however,...
08:46 PM, Mar 20, 2013
Vice President of Uganda Edward Ssekandi on Tuesday met Gujarat Chief Minister Narendra Modi and held deliberations on strengthening ties. Modi told Ssekandi, who was leading a 16-member high-level delegation from his country, that Gujarat was keen to build relations with the African nation in the fields of agriculture, micro-irrigation, fertilisers and petroleum. ...
04:37 AM, Mar 20, 2013
The government had no alternative but to decontrol the diesel prices as the country can "ill-afford" the economic crisis several European nations are going through, Congress leader Digvijay Singh said on Saturday. "In the wake of burgeoning oil subsidy, the government was forced to go in for the measure as the country could ill-afford an economic crisis, which was witnessed by the US and several European countries," the Congress general...
10:26 PM, Jan 19, 2013
India's move to raise the price of subsidised diesel should help with its plans to sell shares in state companies including Oil India Ltd to help bridge the government's fiscal deficit and gives a boost to private oil refiners looking to enter the market for bulk diesel sales. ...
04:59 PM, Jan 18, 2013
The Union Cabinet will take a decision on increasing diesel and LPG prices on Thursday. Diesel prices may be hiked by Rs 4.50 per litre. The Petroleum Ministry has proposed to increase diesel, kerosene and cooking gas rates. ...
11:56 AM, Jan 17, 2013
Shares in Oil & Natural Gas Corp rose as much as 3.6 per cent on January 10 as part of a rally across oil companies after the oil ministry moved a proposal to raise diesel prices to the federal cabinet. ...
11:26 AM, Jan 10, 2013
Prime Minister Manmohan Singh on Monday favoured phased rationalisation of energy prices to bring it in line with global levels and curbing energy subsidies to achieve the targeted rapid, inclusive and sustained growth. He said the central and state governments must work together to create awareness among the public on the need for 'curbing' energy subsidies. ...
12:12 AM, Jan 08, 2013
Diesel prices may be hiked by Rs 10 per litre over a 10-month period and kerosene rates increased by same quantum over the next two years if a proposal of the Oil Ministry is accepted. The price hike is being considered as the government scrambles to find ways to meet an unprecedented Rs 160,000 crore deficit expected this fiscal on selling diesel, cooking gas (LPG) and kerosene below their production...
04:32 PM, Dec 27, 2012
Judicial reforms were the flavour of the year as the government focused its efforts on bringing a bill on judicial accountability and kept up its plans to change the present system of appointment of judges where the executive has little say. In March, the Lok Sabha passed an ambitious bill to lay judicial standards but despite two sessions of Parliament the bill could not be brought in the Rajya Sabha....
12:52 PM, Dec 27, 2012
Weeks ahead of roll out of the direct cash subsidy transfer scheme, the Petroleum Ministry on Tuesday said the plan will not be easy to implement because of the low base of people with the unique identity Aadhaar cards. The government has identified 51 districts for the roll out of the scheme in the first phase beginning January 1. ...
05:24 PM, Dec 11, 2012
The BJP on Monday termed as "baseless and politically motivated" the allegations levelled by Union minister Manish Tiwari about the Gujarat State Petroleum Corporation's (GSPC) deal with a foreign company. "The Congress has invented a scam which does not exist. Contracts given or contracts cancelled are normally done with prior approval given by the Director General Hydrocarbons... Even in this matter it is so," said Nirmala Sitaraman, BJP spokesperson. ...
11:27 PM, Dec 03, 2012
The Congress Party is on the attack in Gujarat. Quoting an investigation done by Tehelka magazine, the party has questioned why the Narendra Modi government gave 10 per cent equity in a gas field to a firm, GeoGlobal, that exists only on paper. ...
06:23 PM, Dec 03, 2012
New Delhi: Sulking Science and Technology Minister S Jaipal Reddy on Monday said anybody handling the ministry of petroleum and natural gas would be "totally frustrated". "I was the minister of petroleum and natural gas. Anybody who handles this portfolio will be totally frustrated as nobody knows why the oil prices increase," he said at the International Bio-energy Summit in New Delhi. Reddy pointed out that India imported 75 per...
02:10 AM, Nov 06, 2012
After the government put on hold the Rs 26.50 hike on non-subsidised LPG cylinders, Petroleum Minister Veerappa Moily said it was the oil companies' decision and not the ministry's, as had been reported. The minister further added that the public sector oil firms will take a call on raising the cap on subsidised LPG cylinders. ...
12:39 PM, Nov 03, 2012
Jaipal Reddy denies reports that he was upset over being moved out of the Petroleum Ministry under corporate pressure. ...
10:48 PM, Oct 29, 2012
New Delhi: New oil minister Veerappa Moily has promised to speed decision making in an effort to attract foreign investment, and will push domestic oil companies to aggressively bid for foreign oil and gas assets to meet growing energy demand. Moily was appointed as the country's new Petroleum and Natural Gas Minister, replacing Jaipal Reddy, as part of a broader cabinet reshuffle unveiled on Sunday. Moily said his ministry would...
03:50 PM, Oct 29, 2012
New Delhi: Stepping into a ministry that had in recent times was seen as indecisive, the new Petroleum Minister M Veerappa Moily on Monday promised quick decisions and creating an environment conducive for investment to flow in. Moily, 72, who replaced S Jaipal Reddy, said his priority would be to intensify domestic oil and gas exploration to reduce import dependence that had played havoc with inflation. "Emphasis will be on...
02:09 PM, Oct 29, 2012
New Delhi: Federation of All India Petroleum Traders, an umbrella body which claims to represent most of the 42,000 petrol pump operators in the country, on Sunday said it has no plans to go on strike as the government was considering raising dealers commission. FAIPT said there was "no truth" in petrol pumps not making any fuel purchases on October 1 and 2. "Petrol pumps all over the country shall...
10:29 AM, Sep 30, 2012
Guntur: In a bid to press for their demand to increase the commission, petrol dealers in Andhra Pradesh have decided not to buy petrol from petroleum companies on October 1 and 2. A spokesman of the AP Petrol Dealers Association said that it has become uneconomical to maintain petrol stations owing to sharp rise in expenses on various heads. The decision of the petrol dealers is expected to hit supply...
12:12 AM, Sep 17, 2012
New Delhi: Petroleum and Natural Gas Minister Jaipal S Reddy on Friday said that there was "no immediate plan" to increase fuel prices. The minister's statement came amidst reports that the government was planning to hike petrol prices by Rs 5 per litre. Addressing the media, Reddy said, "There is no immediate proposal to hike fuel prices, including petrol. The Cabinet will take the final call." The minister added, "We...
11:56 AM, Sep 07, 2012
