The proposed Rs 7,000-crore (Rs 70-billion) petrochemical complex of Gas Authority of India at Kochi has been shelved for the time being due to technical issues, according to Minister of Petroleum and Natural Gas Murli Deora.
India expects to finalise an agreement on the tri-nation pipeline that will bring natural gas from Iran via Pakistan by the middle of next month, Petroleum Minister Murli Deora said on Wednesday.
The government on Monday refused to review its decision rejecting the price of natural gas proposed to be sold by Reliance Industries Ltd to an Anil Ambani group firm.
Petrol and diesel prices in the national capital have been raised marginally following the state government's decision to levy sales tax on the two auto fuels.
The finance ministry had recommended that the government disinvest 10 per cent of its stake in the proposed initial public offer of Oil India, a state-owned upstream company, said Petroleum Minister Murli Deora.
Petroleum ministry has rejected Reliance Industries Limited's plan to sell natural gas to Anil Ambani Group firm Reliance Natural Resources Ltd at less than half the market price.
The government on Friday ruled out an immediate increase in petrol and diesel prices in line with rise in international oil prices.
Supply of the much-needed gas to Dabhol is set to be delayed again. The reason: shortage of pipes required to build the Dahej-Uran pipeline which will feed the gas to the plant.
Petroleum Minister Murli Deora said on Monday the Centre was trying its best not to increase the prices of petroleum products like petrol and diesel even though the international oil prices had registered an upward trend in the past few months.
India will make another attempt to salvage the $22-billion deal to import LNG from Iran when Petroleum Minister Murli Deora meets the Islamic country's President Mahmoud Ahmadinejad in Tehran on Thursday.
Subir Raha, who was last week denied an extension as head of Oil and Natural Gas Corp on the basis of a critical performance appraisal by former petroleum secretary S C Tripathi
Under-realisation on selling domestic LPG and kerosene through public distribution system is likely to be around Rs 50,000 crore (Rs 500 billion) during the current fiscal, Petroleum Minister Murli Deora said on Monday.
Virtually securing the consent of Left parties, the government is likely to decide next week on a price hike of Rs 4 per litre for petrol and Rs 3 a litre for diesel while sparing cooking gas and kerosene.
The government is likely to take a decision on revising fuel prices by the end of this month, petroleum minister Murli Deora said on Monday.
The working group of India, Iran and Pakistan will meet in Islamabad from May 22 to May 24 to further work out modalities for Indo-Iran gas pipeline project.
Iran on Tuesday said India had not been 'ousted' from the proposed $7-billion tri-nation pipeline, even as it set an August deadline for New Delhi to sign an agreement on the project.
Petroleum Minister Murli Deora will meet Finance Minister P Chidambaram next week to discuss a package to bail out public sector oil firms that have been suffering huge losses on account of selling fuel on discounted prices.
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.
Putin, who was the chief guest at the Republic Day celebration, was seen off at the airport by Minister for Petroleum and Natural Gas Murli Deora.
Petroleum Minister Murli Deora will meet Finance Minister P Chidambaram on Monday to work out a package on pricing of petrol and diesel, besides subsidies on kerosene and cooking gas before the month-end.
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.
'The mental issues are too complex to be handled.' 'It is hitting us hard for one reason.' 'We have such a high level of fear about this disease.'
The government will cut petrol and diesel prices when there is a sustained drop in global crude oil prices, Petroleum Minister Murli Deora said on Thursday.
Prices of petrol and diesel will not be reduced immediately as oil companies continue to make losses even after the recent fall in international oil prices, Petroleum Minister Murli Deora said on Wednesday.
The government said on Monday it is examining whether domestic petrol and diesel prices can be reduced in line with the fall in global crude oil prices.
The government on Tuesday ruled out any immediate cut in petrol and diesel prices in line with fall in global oil prices, but said a reduction may be considered once crude prices fall below $50 a barrel.
ONGC Videsh Ltd, the overseas investment arm of state-owned ONGC, and Chinese firm Sinopec have jointly won the bid to acquire Columbian oil firm Omimex de Columbia.
The government on Friday rejected Reliance Industries Ltd's demand for compensation equal to public sector oil firms, to make up for the losses it suffered on petrol and diesel sales.
Hindustan Petroleum Corporation Ltd will invest over Rs 900 crore (Rs 9 billion) on expansion and modernisation of its retail network in 2006-07, Petroleum Minister Murli Deora said on Tuesday.
India plans to buy more liquefied natural gas from Qatar and will expand the capacity of its Dahej LNG terminal to 10 million tonnes a year from the present five million tonnes.
India on Thursday offered 55 oil and gas blocks and 10 coal bed methane blocks for bidding under the sixth round of New Exploration Licensing Policy in an attempt to raise domestic output.\n
Prime Minister Manmohan Singh may convene a meeting of Finance Minister P Chidambaram and Oil Minister Murli Deora within a week to discuss fuel pricing and taxation regime on the sensitive products.
After Moily took over as oil minister, the central government agreed to link prices with global indices.
Besides other issues, lack of pact between India and Pakistan on the price of the gas led to the delay in the project.
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