Senior Congress leader and former Union Minister Murli Deora passed away in Mumbai early Monday morning after prolonged illness.
Petroleum Minister Murli Deora on Monday hinted at a hike in fuel prices, asserting that a final call on it would be taken by the Group of Ministers in the meeting to be held in New Delhi on June 7.
On Monday, political leaders from across the spectrum put aside their differences and congregated in Mumbai to bid adieu to Congress stalwart Murli Deora, who died after suffering from cancer.
Congress stalwart Murli Deora passed away on Monday morning after battling a prolonged illness. He was a politician who shared rapport across the political and corporate spectrum.
In a new twist in the gas row between the Ambani brothers in the Supreme Court, the Anil Ambani-led RNRL on Thursday sought cross-examination of Petroleum Minister Murli Deora, accusing the Government of siding with the Mukesh Ambani's group RIL.
Participants included members of the House Caucus on India and Indian Americans.
"Deora's ability to be a good listener, and his understanding of business, as he is an industrialist himself, helped the empowered group of ministers reach a decision that more or less has satisfied all parties," a senior official says.
Parliament was adjourned on Monday morning after condoling the death of 3 sitting members, including former Union minister Murli Deora.
Petroleum Secretary R S Pandey separately pointed out that the airline had defaulted on payment of fuel bills to oil companies and owed them Rs 259 crore (Rs 2.59 billion). The airline, which is battling to survive the downturn in the industry, has handed out the pink slip to 1,900 employees, mostly cabin crew - which it expected to result in savings of $1 million a month.
The Centre criticised the Maharashtra government on Monday for not honouring its promise to bring down high sales tax on petroleum products and said it 'supports' the demand of striking dealers.
The government on Monday ruled out any immediate increase in petrol and diesel prices despite a spurt in international crude oil prices.
Petroleum Minister Murli Deora will meet Russian Prime Minister Vladimir Putin in Moscow on Wednesday in an effort to secure energy assets, including UK-listed Imperial Energy Plc.
Natural gas producers like Reliance Industries will need government approval for the formula used to calculate the price of the fuel, Petroleum Minister Murli Deora said on Tuesday.
"Oil companies are still losing money. . .Please pray that prices come down further so that we can consider reducing fuel prices," Petroleum Minister Murli Deora told reporters.
Petroleum Minister Murli Deora on Wednesday dismissed reports of diminishing oil stocks in Mumbai due to non-operation of ports after the oil spill off the coast of the metropolis.
The government has no plans to raise fuel prices in the immediate future and will take a decision in this regard at an "appropriate time", Petroleum Minister Murli Deora said on Tuesday. "An appropriate decision on fuel price will be taken at an appropriate time," Deora said at the Economic Editors' Conference in New Delhi.
Petroleum Minister Murli Deora on Monday ruled out any rollback in the increased prices of petroleum products, saying the hike has been reasonable and minimum. "The hike is reasonable and minimum ...," Deora told reporters here.
"You will have to wait for that," Petroleum Minister Murli Deora told reporters. International crude oil prices are ruling at $74 per barrel on Tuesday.
Petroleum Minister Murli Deora on Tuesday sought a Re 1 per litre cut in excise duty on diesel to contain runaway inflation.
The FIR by the ACB was registered a day after Chief Minister Arvind Kejriwal said the agency has been told to probe their alleged collusion over hike in prices of natural gas from KG basin.
Petroleum prices could head downward in the coming few weeks if global crude rates decline further, the government said on Saturday.
A source said on Tuesday that 'petroleum ministry is likely to propose deregulation of petrol prices and gradual phasing out of subsidies on diesel to ease burden on public sector oil marketing companies' -- indicating a possible hike of Rs 3 per litre in petrol rates.
Deora is believed to have explained the oil ministry's position on gas pricing and utilisation.
The Election Commission on Wednesday issued notice to Petroleum Minister Murli Deora for his remarks on effecting a fuel price cut after the conclusion of assembly elections next month. The opposition Bharatiya Janata Party had approached Chief Election Commissioner N Gopalaswami over the issue contending that the announcement amounted to violation of the Model Code of Conduct enforced by the commission.
The drop in international oil prices has resulted in revenue loss of Indian Oil, Bharat Petroleum and Hindustan Petroleum dip to Rs 400 crore per day from Rs 450 crore (Rs 4.5 billion) a fortnight back. The basket of crude oil India buys averaged $111.09 a barrel in the second fortnight of August as compared with $117.37 per barrel in the first fortnight of the month.
Petroleum Minister Murli Deora has sought reconstitution of an empowered group of ministers to decide on allocation of gas from RIL-operated KG-D6 fields to new customers. Deora, who met T K A Nair, principal secretary to the prime minister on Sunday, has formally written to the Cabinet secretary for reconstitution of the eGoM on the lines of the previous ministerial group headed by the then External Affairs Minister Pranab Mukherjee.
A friend of Mukesh Ambani should not be petroleum minister
Deora, who met Mukherjee on Monday afternoon to present his ministry's Budget wishlist, also discussed the deregulation of fuel prices.
Replaying to a question in the Rajya Sabha on Monday, Deora said there are some outstanding issues including finalization of the gas price with Iran.
Petroleum Minister Murli Deora is seeking to give a big push to domestic oil and gas hunt through a slew of fiscal incentives including infrastructure status to exploration and production business and exemption from service tax.
Murli Deora has expressed optimism over the IPI gas pipeline project, confirming that talks are on with both Iran and Pakistan to finalise the project.
With Opposition parties calling for a nationwide strike against the hike in fuel prices, Petroleum Minister Murli Deora on Wednesday justified the decision, saying the increase translated to less than Re 1 per day on domestic LPG and 26-27 paisa a day on kerosene.
Petroleum Minister Murli Deora on Tuesday renewed his plea to the Maharashtra government to cut sales tax on petrol and diesel to give relief to fuel pump dealers, who were losing high volume business to neighbouring states where tax rates were much
Sudan, which had in 2007 defaulted on payment of installments towards the cost of building 741-km pipeline from Khatroum to Port au Sudan, agreed to form a working group to resolve the issue within a month, sources said.
The government is likely to decide within the next two days whether to hike petrol and diesel prices to provide some relief to state-run oil marketing companies, Petroleum Minister Murli Deora indicated on Monday.
Amidst the legal battle between Reliance Industries Ltd and Reliance Natural Resources Ltd over gas from Kaveri basin, Petroleum Minister Murli Deora has hit out at the Ambani brothers for fighting over a natural resource that belongs to the government and the people of the country.
The government advised the warring Ambani brothers several times that they should stop fighting, but failed to bring about a reconciliation, Petroleum Minister Murli Deora said on Wednesday.
Petroleum Minister Murli Deora has asked Prime Minister Manmohan Singh for a Re 1 per litre excise duty cut on crude oil to enable a reduction in auto fuel prices, necessary to contain the growing inflation.
Sources said both Mukherjee and Deora were in favour of Rs 2-3 a litre hike in petrol and diesel prices and Rs 25 per cylinder increase in LPG rates.
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