Dudley and Ambani, assisted by BP India head Sashi Mukundan and RIL Executive Director P M S Prasad, primarily discussed RIL-BP's oil and gas investments at the meeting that lasted nearly one-and-half hour.
Diesel is currently sold at a loss of over Rs 10.80 per litre.
There will be no change in LPG and kerosene rates, Oil Minister M Veerappa Moily told reporters in New Delhi after the meeting on Cabinet Committee on Political Affairs. "I am happy to inform the Cabinet Committee on Political Affairs has decided to raise the cap on subsidised LPG to nine cylinders per household in a year from existing six cylinders," he said.
The Oil Ministry, which had been sitting on the proposal for over a year, wrote to the Directorate General of Hydrocarbons earlier this week saying that it has been decided to permit exploration in already producing oil and gas fields, sources privy to the development said.
Taking suo moto cognisance of reports of the Centre's move -- ahead of Gujarat assembly polls -- to increase the cap on subsidised LPG cylinders, the Election Commission has directed it to stop the same forthwith. The Commission held an emergency meeting soon after the Minister of Petroleum and Natural Gas M Veerappa Moily said the government will raise the cap on the supply of subsidised cooking gas to nine cylinders per household a year from six at present.
Civil Aviation Minister Ajit Singh on Tuesday ruled out any move to regulate airfares saying the government only wants the system to be made transparent.
The government is looking into demands for raising the cap on supply of subsidised cooking gas (LPG) cylinders per households, Oil Minister M Veerappa Moily said.
The scheme was to be rolled out in 20 districts initially but the launch in Mysore in Karnataka and Mandi in Himachal Pradesh has been put off by a month due to assembly and Parliamentary bypolls, official sources said.
RIL stated on Saturday that it had never contested the government's right to get spendings on the flagging KG-D6 gas fields audited by the Comptroller and Auditor General of India but added that the consent must not lead to a performance audit of a private firm.
After External Affairs Minister S M Krishna, another Union minister from Karnataka has written to Prime Minister Manmohan Singh demanding a review of the decision of the Cauvery River Authority asking the state to provide Tamil Nadu with 9,000 cusecs of water daily.
Without making big-ticket changes in the economic ministries, Prime Minister Manmohan Singh on Tuesday shifted Law Minister M Veerappa Moily to the ministry of corporate affairs and inducted young Milind Deora in his council of ministers.
Assam is set to get more power from the 2,000 MW Subansiri Hydro-electric project that is under construction by the National Hydro Power Corporation at Gerukamuhk on Assam-Arunachal Pradesh boundary despite stiff resistance from anti-mega dam protestors.
BP Plc, Europe's second biggest oil company, and Reliance Industries will invest $5 billion in developing untapped gas reserves in the KG-D6 block as the partners attempt to reverse the fall in gas production.
Power is a very crucial sector, as it fuels growth; one per cent increase in power generation leads to one per cent increase in gross domestic product, says Veerappa Moily.
Defence Ministry has declared 7 blocks including RIL's KG-D6 which has been in production since September 2008 and its gas discovery block NEC-25 for reasons like overlapping with proposed Naval base or being close to missile launching and Air Force exercise area.
The corporate affairs ministry has mooted the idea.
In a much relief to the common man, Oil Minister Veerppa Moily said that the cap on subsidised liquefied petroleum cylinders is to go up to 9 in a year.
Senior Congress leader from Andhra Pradesh G Venkataswamy, who caused a flutter demanding the resignation of Sonia Gandhi as party chief, could be shown the door. Indications to this effect were available with Union Law Minister M Veerappa Moily, who is in charge of party affairs in Andhra Pradesh, saying that his "viciousness" in attacking Gandhi and his "arrogance" certainly warranted action.
The Oil Ministry will raise the cap on supply of subsidised cooking gas (LPG) to 9 cylinders per household in a year provided the Finance Ministry agrees to give an additional Rs 3,000 crore in 2012-13.
The output has dropped after hitting a peak of about 62 mmscmd in August, 2010.
Congress on Saturday doubted the veracity of a 'WikiLeaks' cable, which said that a section of the party leadership was seen playing religious politics after one of its leaders, A R Antulay, raised suspicion on the truth behind Anit-Terrorism Squad chief Hemant Karkare's killing during 26/11 attacks.
He says current arrangement is working fine.
The government will take a decision in the next "two to three days" on the resignation of Solicitor General Gopal Subramanium who has so far refused to reconsider his decision despite being asked by Prime Minister Manmohan Singh.
Against the backdrop of rising protests from farmers over acquisition of their land, the Centre has decided to bring in a new legislation governing the exercise with a focus on farmers' welfare, Law Minister M Veerappa Moily said on Saturday.
Contrary to Anna Hazare team's description of government's Lokpal Bill draft as a "very big hoax", Swami Agnivesh, an associate of the Gandhian's anti-graft campaign, on Friday termed the latest draft as an "improvement" of its 2010 draft.
With the Ruchika molestation case causing uproar, Union Law Minister M Veerappa Moily on Friday said the Government has decided to "fast track" cases relating to women, including those involving rape, molestation and dowry.
Amid the growing chorus against black money and the government's efforts to pull the plug, Union Law Minster M Veerappa Moily has suggested Finance Minister Pranab Mukherjee to completely overhaul the tax administration.
Replying to a debate on the Representation of People (Amendment) Bill, 2010 to allow NRIs to exercise their franchise in Indian elections, Law Minister M Veerappa Moily said the government would hold a national consultation on comprehensive electoral reforms in two to three months.The Rajya Sabha had passed the bill on Monday.
Friends, family members and Union ministers on Friday hailed the Supreme Court order granting bail to activist Binayak Sen, who was sentenced to life imprisonment on charges of sedition by a Chhatisgarh trial court.Union ministers P Chidambaram and Salman Khurshid expressed happiness over the court's decision to release Sen, who was convicted and sentenced for helping Naxals set up a network against the State. Law Minister M Veerappa Moily termed it as an "eye opener".
Chief Vigilance Commissioner P J Thomas resigned from his post on Thursday following the Supreme Court verdict which quashed the appointment of the former bureaucrat.
Reacting to Kerala government's plans to file a case against the MP for his anti-judiciary statement, Moily said: "You cannot pass remarks that will bring the institution to disrepute".
Union Minister M Veerappa Moily on Monday termed as "most unfortunate and misguided" Y S Jaganmohan Reddy's decision to resign from Congress and the Lok Sabha but said it would have no effect on the party in Andhra Pradesh.
Terming the remarks made by Hurriyat hardliner Syed Ali Shah Geelani and writer Arundhati Roy at a seminar in New Delhi as 'most unfortunate', Law Minister M Veerappa Moily on Tuesday said freedom of speech cannot violate patriotic sentiments of the people."Yes, there is freedom of speech, but it can't violate the patriotic sentiments of the people," he said.
OIL, which had paid a total dividend of 190 per cent in 2011-12, in January declared an interim dividend of 110 per cent for the current fiscal.
The Congress on Wednesday night denounced as "most mischievous, highly motivated and perverse" the editorial in the Nationalist Congress Party mouthpiece calling Sonia Gandhi and Rahul Gandhi arrogant.
Petrol price was hiked by Rs 1.50 a litre and diesel by 45 paisa a litre.
Law Minister M Veerappa Moily on Saturday slammed Bharatiya Janata Party for criticising the advisory sent by the Centre to the B S Yeddyurappa government in Karnataka, saying the party should have taken it in the right spirit.
Law mnister M Veerappa Moily on Tuesday said it is possible for the government to meet the August 15 deadline set by social activist Anna Hazare for passage of the Lokpal bill in Parliament if all cooperate. "Yes, it is possible to meet the August 15 deadline, provided if all cooperated", Moily told mediapersons before leaving for Delhi.
Congress president Sonia Gandhi and Union Home Minister P Chidambaram will undertake an aerial survey of flood-affected areas of Karnataka's Bellary district on Monday.
The Congress ruled out disciplinary action against its MP Y S Jagan Mohan Reddy who embarked on his controversial yatra despite the reservations expressed by the high command.
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