Notwithstanding the demand of the Left parties, Petroleum Minister Mani Shanker Iyar on Friday asserted that there would be "no rollback" of the hike in petro products prices.
In a clear move to protect consumers from hardening global oil prices, the government will announce by June 15 a new pricing policy for petrol, diesel and LPG that may include lower duties and targeted subsidies.
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Central Reserve Police Force personnel posted at the entrance did not recognise the new petroleum minister.
India's Petroleum Minister Mani Shankar Aiyar has predicted that the 'oil bubble' will burst soon.\n\n
Pakistan, "for the time being", does not want to import diesel from India either through land or sea route, owing mainly to its "higher rates".
But party seeks to streamline the process, dealing with issues in an 'integrating' manner
Subir Raha, chairman and managing director of Oil and Natural Gas Corporation, has not been given an extension by the government and he will have to hang his boots by this evening.
Petroleum Minister Mani Shankar Aiyar will visit Pakistan from June 3 to boost energy ties and discuss the $4.16 billion Iran-India gas pipeline project.\n\n
The finance ministry has rejected a cut in duties to avoid an increase in petro prices even as Petroleum Minister Mani Shankar Aiyar will begin a consensus-building exercise within the UPA for a fuel price hike.
A couple of months after exiting the Petroleum Ministry, Mani Shankar Aiyar on Thursday lashed out at the way the top bureaucrats functioned in the ministry.
Petroleum Minister Mani Shankar Aiyar will visit Pakistan in the second fortnight of May to discuss modalities of Iran-India gas pipeline besides other areas of cooperation in the hydrocarbon sector.
"This bunch of illiterate people cannot probably differentiate between 'shall' and 'consider'," the former Madhya Pradesh chief minister said.
The BJP is soon likely to announce new positions for the senior former Union Ministers Ravi Shankar Prasad and Prakash Javadekar, sources said.
Petroleum Minister Mani Shankar Aiyar will visit Pakistan on March 15 and 16 to attend the SAARC Energy Ministers' meeting and hold talks with Pakistan on the India-Iran trans-national gas pipeline.
India may ink an agreement with Iran in June this year on the import of natural gas through a $4.5 billion pipeline transiting through Pakistan.
Petroleum Minister Mani Shankar Aiyar will take up Oil and Natural Gas Corp's proposal to acquire 15-20 per cent stake in embattled Russian firm Yukos' core asset, Yuganskneftegaz, when he meets his Russian counterpart in Moscow on February 21.
Petrol and diesel prices are unlikely to be reduced in line with falling international prices as the government is working on a stable pricing regime.
Oil and Natural Gas Corp is spending 93 per cent of its total capital expenditure of Rs 10,850 crore (Rs 108.50 billion) in the current fiscal on its core activities of oil and gas exploration and production, according to its chairman and managing di
The government will allow exploration firm Oil and Natural Gas Corporation and Gas Authority of India to market domestic LPG to increase penetration of cooking fuel to 75 per cent of the population.
Petroleum Minister Mani Shankar Aiyar on Tuesday hinted that the system of fortnightly revision of petrol and diesel prices is likely to be replaced with monthly or quarterly revisions.
India may dump Iran for Yemen and Qatar as a possible source of liquefied natural gas after the ministerial level talks failed to finalise a deal for New Delhi to buy five million tonnes of LNG.
Petrol may become cheaper by Re 0. 40 per litre from December 1, following a fall in international oil prices.
India is likely to discuss the fate of the proposed $4.16 billion Iran-India gas pipeline during talks with Pakistani Prime Minister Shaukat Aziz next week.
Indian power expertise to Sudan for oil, gas blocks
LPG prices will go up by Rs five per cylinder every month with the government on Tuesday saying there is no roll-back in the decision.
Petroleum Minister Mani Shankar Aiyar on Monday remained non-committal on rolling back the hike in petrol, diesel and cooking gas prices saying the demands for revisiting the decision could only be considered after the Prime Minister returns from The
Bharatiya Janata Party (BJP) MP Nishikant Dubey on Wednesday wrote to Lok Sabha Speaker to move a breach of privilege motion notice against Congress leader Rahul Gandhi a day after his speech in Lok Sabha where he made certain allegations about Prime Minister Narendra Modi and his association with industrialist Gautam Adani.
Asked if petrol and diesel prices would be raised on October 15, the next due date for auto fuel price revision, Aiyar said: "Only God knows and the prime minister know."
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