The Petroleum Ministry has allocated additional natural gas from Reliance Industries' eastern offshore gas fields to three power plants to meet electricity deficit in northern states reeling under drought.
Had the government intervened at the right time, the controversy over an MoU that provides for dividing a national resource, would not have arisen, he said.
Though the government had earlier this year explicitly decided to compensate Indian Oil, Hindustan Petroleum and Bharat Petroleum for the losses they incur on selling domestic liquid petroleum gas and kerosene through public distribution system by way of oil bonds, the finance ministry has not issued any bonds for the three quarters.
Aam Aadmi Party termed BJP prime ministerial candidate Narendra Modi as "an autocrat and dictator in his party" and claimed that even senior BJP leaders L K Advani and Murli Manohar Joshi have "no say" before him.
Lok Sabha MP Harsh Vardhan on July 23 wrote to Petroleum Minister Murli Deora asking why the government had kept quiet for all this while on the Ambani family MoU that provides for dividing Krishna-Godavari basin gas between companies run by brothers Mukesh and Anil.
"I would say there was a good response from the people (we met today), and something substantial can come out of it. But I cannot give you the names or details of our meeting," Deora, when asked to give a sense of the meeting by rediff.com, said.
State-run oil marketing companies Indian Oil, Hindustan Petroleum and Bharat Petroleum are likely to lose Rs 45,478 crore (Rs 454.78 billion) this fiscal on selling fuel below cost, Petroleum Minister Murli Deora said.
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Prime Minister Manmohan Singh has constituted a ministers' group to monitor the government's stand on the Ambani gas dispute in the Supreme Court.
Deora is believed to have explained the oil ministry's position on gas pricing and utilisation.
Anil Ambani's Reliance Natural Resources continued its attack on the government for allegedly favouring brother Mukesh Ambani's Reliance Industries Ltd on the sale price of gas from the Krishna Godavari D6 basin. At $4.2 per million British thermal unit (mBtu), the price fixed, there is a premium of more than 100 per cent over the gas available through the administered pricing mechanism, it said.
A friend of Mukesh Ambani should not be petroleum minister
The government may soon raise prices of natural gas produced by state-owned ONGC and Oil India by as much as 30 per cent, Petroleum Secretary S Sundareshan said on Monday.
Asserting that it had no role in the Ambani family dispute, the government on Monday declared in Parliament that it will do everything to protect its legal right to regulate usage of gas.
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.
For the second successive day, the Opposition disrupted proceedings in Parliament over the government's new sugarcane price policy.
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.
Five persons were killed and 150 others sustained burn injuries in a major fire that broke out after a petrol tanker exploded in Sitapura industrial area in Jaipur on Thursday evening, the police said. The fire spread fast and enveloped several factories located within a radius of three kms. Details about the extent of the damage caused by the fire is still awaited, said the police.
"They (prices of petroleum products) should be linked to world prices," Planning Commission Deputy Chairman Montek Singh Ahluwalia told PTI when asked about the global crude prices now surging to about $70 a barrel.
A prime minister-appointed expert group, headed by Kirit Parikh, suggested on Wednesday freeing petrol and diesel prices and suggested raising liquid petroleum gas rates by a steep Rs 100 per cylinder and kerosene by Rs 6 a litre.
Deregulating petrol and diesel prices has been on the cards since the crude oil prices came down by $100 from the historic high of $147 a barrel, a few weeks back. But with the rates climbing again, doubts are being cast if prices can actually be freed. Crude oil prices are ruling at $71-72 a barrel, a seven-month high.
Deora, who met Mukherjee on Monday afternoon to present his ministry's Budget wishlist, also discussed the deregulation of fuel prices.
Despite the hype over the possible candidature of All India Congress Committee General Secretary Digvijaya Singh for the Varanasi Lok Sabha seat, the Congress has narrowed down its choice to local legislator Ajay Rai and former party MP Rajesh Mishra, with the former emerging as a front runner.
Finance minister Pranab Mukherjee is believed to be in favour of giving state-run oil firms freedom to fix price of petrol and diesel in step with cost, as he feels the current moderate global oil rates may be the last window India has to deregulate fuel pricing.
The finance minister as part of his pre-Budget consultations is meeting industry bodies and ministers and has slotted Deora for June 15, a source said. On Deora's agenda will be getting back the seven-year exemption or holiday from payment of income tax for natural gas producers. He may also press for infrastructure status for natural gas.
Jaswant Singh could stick out like a sore thumb for BJP even in the Lok Sabha after its attempt to remove him from the Chairmanship of the Public Accounts Committee has been virtually rejected by Speaker Meira Kumar.
The Union Budget for 2017 is likely to be presented on February 1. An approval for merging the Railway Budget with the General Budget was accorded by Finance Minister Arun Jaitley on Monday.
"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.
Talks between the government and striking oil Public Sector Undertakings failed late Thursday night over the officers' insistence on getting an immediate hike in their wages as the agitation threatened a major disruption in supply of petrol across the country. Deora is likely to meet Prime Minister Manmohan Singh on Friday afternoon on the issue after the meeting of the Union cabinet in the morning.
The students are demanding the removal of vice chancellor M Jagadesh Kumar from his post.
Gurpreet Singh Bhullar, a close associate of gangster Chhota Shakeel, was extradited to Mumbai from Bangkok on Thursday. Bhullar, a sharp-shooter for the Shakeel gang, is wanted in several cases in Mumbai, including those related to murder and attempt to murder
Former Union Minister Najma Heptulla was on Wednesday made Governor of Manipur while ex-Rajya Sabha MP V P Singh Badnore goes to Punjab in new gubernatorial appointments announced for four states with all of them being associated with the Bharatiya Janata Party.
'For a show that has been going on since 1948 one expected a certain standard of showcasing and showmanship, besides variety and a show of skill.' 'At the same time one felt pretty good about the standards of our own efforts -- Aero India -- at Bangalore once every four years and in business only since 1996,' says Group Captain Murli Menon (retd) after a visit to the Farnborough Airshow.
'Ayodhya is a sacred pilgrim spot. Construction of a temple of Lord Ram is a matter of faith for crores of people. And Lord Ram himself is a symbol of faith for crores of people of the country'
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.
With terrorists using the sea route to unleash the deadliest attack on India in 15 years, an alarm has been sounded on security of oil and gas installations, particularly offshore areas, with companies offering to bear part of the cost of enhanced surveillance and patrolling.
The gas row between the Ambani brothers had its echo in the Lok Sabha on Thursday with Samajwadi Party chief Mulayam Singh Yadav making a strong plea for gas from Reliance at cheaper rates for state-owned NTPC, a plea also being used by the Anil Ambani group.
Replying to a calling-attention motion in Rajya Sabha, oil minister Murli Deora said the $4.2 per million British thermal unit price fixed for gas produced from KG-D6 fields of RIL was lower than the average of $5.51 per mmBtu charged by UK's BG-led consortium for Panna/Mukta and Tapti gas. It was also lower than the $4.3 per mmBtu price of gas produced from Cairn's Ravva Satellite fields and $4.75 per mmBtu for the UK firm's Lakshmi fields.
Within days of India approaching International Atomic Energy Agency for country-specific safeguards for nuclear power plants, the ministry issued advertisements in newspapers explaining what the uranium extracted energy can do to the nation's energy security. Energy-hungry India has a huge unmet power demand and the heavily subsidised diesel is being used as fuel to generate electricity.
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.
