ONGC has written to the government numerous times saying the state-run banks on getting assured business act in cartel, offering interest rates lower than even that on retail deposits.
Government has set $4.20-per million British thermal unit as the selling price for D6 gas, but the Bombay high court last month asked RIL to supply gas to firms run by Anil Ambani Group at $2.34 per mmBtu, 44 per cent lower than the price fixed by the government.
The government is giving top priority to making available 581 MMSCMD of gas required by power projects in the country, Rajya Sabha was informed on Tuesday.
Minister of State for Petroleum and Natural Gas Jitin Prasada has said state-run oil companies have the freedom to fix petrol prices, but the government will step in if rates shoot up "indiscriminately".
The Lucknow-Delhi Green Corridor will traverse Bareilly, Moradabad, Rampur and Ghaziabad. GAIL India Limited will be the implementing agency of the project.
Reliance Industries' eastern offshore KG-D6 natural gas field will have a peak output of 80 million cubic metres per day for six years beginning 2011-12, Minister of State for Petroleum and Natural Gas Jitin Prasada said.
The government has directed state-run fuel retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum to clear the wait list for domestic LPG connection within the next two months.
India has acquired a Russian oil company and bought equity stake in an oil field project in Venezuela through consortium route, the Rajya Sabha was informed on Tuesday.
Minister of state for petroleum and natural gas Jitin Prasada in a written reply to a question in the Lok Sabha said the finance ministry is yet to approve the oil bonds. Indian Oil, Bharat Petroleum and Hindustan Petroleum lost Rs 11,853 crore (Rs 118.53 billion) in revenues on not being allowed to raise LPG and kerosene prices in line with the cost during April- September.
Minister of state for petroleum and natural gas Jitin Prasada in a written reply to a question in the Lok Sabha said that IOC and MRPL have been allocated 0.20 million tonnes each in 2009-10, while HPCL would offtake 0.30 million tonnes of Rajasthan crude. In 2010-11, IOC would buy 1.5 million tonnes of the crude oil from the nation's most prolific oil discovery in more than two decades, while MRPL would double its offtake to 0.40 million tonnes.
Minister of State for Petroleum and Natural Gas Jitin Prasada, who led the roadshows in the US and Canada, said the roadshows for 70 blocks offered in NELP-VIII and 10 coal bed methane blocks received overwhelming response from investors.
Private airlines Jet Airways and Kingfisher owe state-owned oil firms over Rs 1,774 crore (Rs 17.74 billion) in unpaid jet fuel bills, Minister of State for Petroleum and Natural Gas Jitin Prasada said on Thursday.
Almost half of the retail price of petrol of Rs 44.63 a litre in the national capital comprises taxes and duties, Minister of State for Petroleum and Natural Gas Jitin Prasada said.
British energy firm BP Plc is the operator of the ultradeep sea block with 26.7 per cent stake.
Replying to a question in the Lok Sabha, Jitin Prasada, Minister of State for Petroleum and Natural gas, said natural gas production in India has increased 75 per cent compared to 2008-09 and is expected to double in near future.
Petroleum Minister Murli Deora and Minister of State for Petroleum Jitin Prasada took charge on Friday.
Here is the complete list of ministers in Modi 3.0 and their portfolios:
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