'Nobody explained why. After that there was panic buying, there was hoarding -- and then nothing reached us.'
'There is no shortage of fuel whatsoever.' 'India is stock surplus as far as petrol and diesel are concerned.'
The pricing of natural gas will be discussed by the group of ministers concerned on January 29, Union Petroleum Minister Ram Naik said on Wednesday. \n\n\n\n
The Standing Committee on Petroleum and Natural Gas in a report tabled in Parliament said the proposed formula is a simple average of two methodologies -- price of imports of LNG into India by different suppliers, and weighted average of prices of natural gas prevailing at Henry Hub in USA, National Balancing Point in London and netback import price at the well head of suppliers into Japan.
A four-member panel of secretaries is likely to submit its report on a new gas pricing mechanism to the government by Wednesday.
According to a source close to the development, the government is set to come out with a notification in this regard by the end of this week.
The move is likely to force the government to take a faster decision.
The Standing Committee on Petroleum and Natural Gas in its report tabled in Parliament today asked the ministry to strictly monitor implementation of directions issued to RIL for reversing the trend of falling gas output from the Bay of Bengal field.
A Parliamentary Panel has "deplored" the government for capping the supply of subsidized LPG to 6 cylinders per households, saying that such restrictions should not be placed on people having income below a threshold.
A parliamentary panel has asked the government to restrict imports of all petroleum products especially transportation fuels (petrol and diesel) by private firms in view of the excess refining capacity in the country.
The government is willing to increase its contribution to the subsidy bill on retail sale of oil products
The commission asks for notification to be deferred; RIL's KG-D6 pricing issue may return to Cabinet
The 'failure' to drill the committed 50 wells on the KG-D6 fields led to natural gas output dramatically falling over the past three years.
Amidst Finance Ministry raising prospects of forcing Reliance Industries to sell gas at old price of $4.2, Oil Minister M Veerapa Moily on Thursday said there was no rethinking in the government on the decision to double gas rates from April 1, 2014.
The Cabinet Committee of Economic Affairs has approved a hike in gas prices from April 2014.
Stoutly defending the hike in gas prices, Oil Minister M Veerappa Moily said the move would benefit the government in terms of revenue as many gas discoveries have been made by public sector companies rather than private sector.
Mukesh Ambani's Reliance Industries (RIL) might be denied a higher gas price from its D1 and D3 fields until the arbitration process with the government is over and a third-party expert report on the fall in output at the KG-D6 block is out.
Gas price hike seems to be a distant dream for Reliance Industries and its partners--Niko Resources and BP.
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The GST Bill, introduced in Parliament in 2010, is being vetted by the Standing Committee on Finance. Now, the states and the Centre would together finalise the draft and bring it back to Parliament.
Oil and gas players' wish list includes incentivising E&P investments and reintroduction of income tax holiday for exploration and production activities, among others.
To proceed with a Cabinet proposal to grant the relaxations to RIL, the Election Commission's approval will be sought.
Union Ministers Smriti Irani and D V Sadananda Gowda have been dropped from Inter-State Council, official sources said on Wednesday.
Dharmendra Pradhan lays bare the next course of action for his ministry and says RIL will have to pay the same price at which it produced the volumes.
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.
Former Prime Minister Manmohan Singh, who is hailed as the architect of economic reforms in the country, is a member of the Parliamentary Standing Committee on Finance, it was announced on Tuesday.
Ministry to propose a new subsidy mechanism to cap upstream firms' share.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
A plea of the UK-based Vedanta group company to export its share of crude oil from Barmer oil field in Rajasthan was on Tuesday rejected by the Delhi high court on the ground that domestic crude cannot be exported till India attained "self sufficiency".
The president-elect has vast public, social, and political experience which will help him better to discharge his duty as the First Citizen of India.
Rediff.com gives you a look at newbies in the Council of Ministers
'The days when less government, more governance were spoken of are well and truly behind us.' 'More government, it is now believed, means more governance,' says Saisuresh Sivaswamy.
A brief report card on Modi's ministers.
The bill now heads to the White House for President Donald Trump's approval.
The Prime Minister's Office has clarified that the total sanctioned strength of the PMO has been around 525 in the period 2011-14. As against this, the actual strength of the PMO in the years 2011, 2012 and 2013 was in the range of 407 to 411. The number has now declined to 385.
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