Ms Rupshikha Saikia Borah, on Tuesday, has taken over as Director Finance of Oil India Ltd—India's second biggest state-owned exploration and production firm.
All officials including chairmen of ONGC, IOC, BPCL, OIL, HPCL have agreed to travel in a public transport on Wednesday, Moily said. "But this is voluntary," he said.
Oil Minister Veerappa Moily said the government had learnt important lessons in last nine auction rounds of oil and gas blocks.
Centre plans a unified exploration policy to avoid RIL-like disputes, may do away with cost recovery
The government has decided to craft a "perfect" exploration licensing regime which will unify and simplify the policies for oil and gas, coal bed methane and shale.
Government to allow private energy firms to explore shale oil and gas from their blocks: Veerappa Moily
He said, the government would also launch the tenth bidding round of oil and gas blocks after certain policy issues are resolved.
"ONGC expects positive results from shale exploration and depending on the outcome and experience we will intensify our efforts," Chiarman & Managind Director Sudhir Vasudeva said.
The cabinet has approved shale gas & oil exploration policy, which will pave way for ONGC and Oil India to hunt for non-conventional resources in blocks.
Moily outlined measures including public awareness campaigns which he said could help the world's fourth-biggest energy consumer reduce fuel costs.
Govt is concerned about rising fuel subsidy bill, which is expected to cross Rs 180,000 crore in the current financial year unless urgent steps are taken.
"India wants more crude oil from Venezuela. We don't have any problem in that. India is our friend," Venezuelan Petroleum Minister Rafael Ramirez said.
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