Petroleum minister M Veerappa Moily would like to import 11 million tonnes of Iranian crude in this financial year.
Adityanath will be the 21st UP chief minister and the fourth from the BJP.
Training his guns on BJP's prime ministerial candidate again over the Reliance gas issue, the Aam Aadmi Party on Friday asked Narendra Modi whether he will bring down the gas price if he comes to power.
Congress vice-president Rahul Gandhi's leadership has come under attack. Although the party tried to dismiss the rebellion brewing in Congress-ruled states of Assam in the east and Maharashtra in the west, no one is convinced.
There were mixed reactions from parties to Markandey Katju's charge that three ex-chief justices of India had compromised in giving extension and elevation to an additional judge of Madras high court at UPA government's instance, with some including All India Anna Dravida Munnetra Kazhagam demanding a probe while others questioned the timing of his disclosure.
The cost of CNG, which will be reduced by up to Rs 15 per kg in the next few days following a rejig in natural gas allocation, will go up by Rs 10.6 a kg in April, when domestic gas prices almost double.
He accused the BJP of creating friction between communities and 'igniting' fire and ramped up his attack on the PM.
M Veerappa Moily's takeover of the environment & forests ministry last month, it appears, is turning out to be a blessing for Coal India Ltd (CIL), the world's largest coal producer.
Government has put on auction the gas discovery area it snatched from Reliance Industries in KG-D6 block and the field that Cairn India is seeking to regain around its Rajasthan block.
The likely solution that appears before the AAP government is to seek for a higher quota of domestic natural gas for Delhi, which would bring down auto and cooking gas prices.
The government had in May last year disallowed $1.005 billion expense of RIL on the flagging KG-D6 gas fields for not implementing the approved field development plan.
Launching a fresh broadside at Oil Minister M Veerappa Moily, CPI leader and MP Gurudas Dasgupta on Tuesday said no action has been taken against Reliance Industries for deliberately keeping natural gas output low and is instead being rewarded by a steep hike in prices.
The government-appointed Kirit Parikh committee suggested an 'immediately' hike prices of diesel by Rs 5 a litre, Rs 4 per litre in kerosene and Rs 250 per cylinder in LPG, reduce annual entitlement of subsidised cooking gas cylinder from six from nine and phase out diesel subsidy in one year to cut a record subsidy burden.
The Supreme Court on Wednesday agreed to hear a plea seeking stay on arbitration proceedings on a dispute between Mukesh Ambani-led Reliance Industries Ltd (RIL) and the government over recovery of cost for developing the country's key natural gas field in the Krishna-Godavari (KG) basin.
As all regulators are part of it, individuals don't need to worry about approaching the right authority
Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation are losing Rs 486 crore (Rs 4.86 billion) per day as they are made to sell diesel, domestic LPG and kerosene way below cost to keep inflation under check.
Reliance Industries Ltd (RIL) has refuted the allegation in the Supreme Court that it is deliberately reducing production of gas in KG basin in anticipation of a higher gas price and said it has taken all steps for arbitration proceedings with Centre to sort out all disputes.
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While the Cabinet has approved doubling of gas price from April 1 next year, Oil Ministry is proposing that old rates of $4.2 per million British thermal unit apply to gas from D1/D3 and MA fields in eastern offshore KG-D6 block till it proved that RIL had proved less than targets only because of geological factors.
Talk that Anil Kumble, the former Indian captain, will contest the forthcoming Lok Sabha election from Karnataka has been making the rounds. Rediff.com's Vicky Nanjappa finds out if Kumble will indeed spin a political googly.
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Following adverse media reaction to the June 27 decision of the Cabinet Committee on Economic Affairs, the finance ministry had issued an office memorandum asking the petroleum ministry to see if there was a way to make RIL clear its gas supply backlog at the existing price.
While Rahul loyalists were keen that he be given the post, a leader known to be close to him said, "If he does not become the leader of the Congress in the Lok Sabha, then he should quit politics."
The Directorate General of Hydrocarbons (DGH) had recommended to the ministry that RIL be asked to give up 86% of its KG-D6 gas block area
Prime Minister Manmohan Singh on Tuesday dedicated GAIL India Ltd's 1,000 km Dabhol-Bangalore natural gas pipeline to the nation.
Reliance Industries would repair a third of the wells shut at its main gas field in the eastern offshore KG-D6 block to boost output in the first quarter of 2014.
The quality of both civil servants and political executive members in India has deteriorated, former coal secretary P C Parakh tells Upasna Pandey
Increase in first half of FY14 comes despite a fall in average crude prices; weak rupee helps.
Aam Aadmi Party leader Arvind Kejriwal and his party feel that they have a fighting chance in Bangalore. The crowd that gathered for his road show comprised both supporters and curious onlookers.
Former Railway Minister Pawan Kumar Bansal was re-nominated by Congress from Chandigarh on Thursday brushing aside the "taint" argument as it released the second list of 71 candidates who include film star Nagma in Meerut and Youth Congress chief Rajeevv Satav from Hingoli.
In a further escalation of the confrontation between the Congress and the government, the opposition party claimed that a committee constituted by the Delhi government has found 'gross financial irregularities' in the DDCA during that period.
The Reliance gas pricing issue is likely to find a place in the Aam Aadmi Party's manifesto as the new party has already indicated that it will be among the major issues to target the Bharatiya Janata Party and the Congress in the Lok Sabha election.
Amidst a storm over proposal to shut petrol pumps during night to taper fuel demand, Oil Minister M Veerappa Moily on Monday said the government had not made any such proposal and the idea had come from public.
Attacking Bharatiya Janata Party and its PM candidate Narendra Modi, Congress President Sonia Gandhi on accused them of indulging in divisive politics by "sowing seeds of poison" (zeher ki kheti) and instigating violence.
Under pressure from his party, Oil Minister M Veerappa Moily said the government is considering increasing the quota of subsidised LPG cylinders to 12 per household even as hints were dropped of a one-time hike in diesel and LPG rates
At the core of the issue is the national capital's unique status of a Union Territory that is administered by both the Centre and the government of the National Capital Territory of Delhi.
State-owned fuel retailers, who control 95 per cent of the petrol pump sales, sell diesel at government-fixed rates, which are way lower than the cost of production.
Sports Minister Jitendra Singh responded to his senior colleague in the government Veerappa Moily's letter to him in connection with Jwala Gutta's ongoing impasse with the BAI, saying that he will examine her case and see how he can extend support to her.
The government's top leadership was happy with Prabhu's Budget.
Keeps open the option to make payments in yen or yuan in the face of sanctions
In January this year, with a view to cutting the subsidy on diesel, the government had decreed that all bulk users, such as the railways, state transport corporations, armed forces and all commercial establishments, would be charged the market price for diesel.
A decision on raising diesel prices by Rs 3-5 per litre, kerosene by Rs 2 and LPG by up to Rs 50 per cylinder will be taken after UPA Chairperson Sonia Gandhi returns from US, top government officials said.
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