Oil Minister Veerappa Moily has questioned state oil firms for charging about 25% more for jet fuel supplied to Indian carriers and sought their explanation.
The government has decided to allow power companies to divert natural gas from one of their plants to another to achieve optimal operations, relaxing the stringent policy that restricts fuel supply to specific units.
IOC refineries at Haldia and Digboi and the naptha cracker unit at Panipat were conferred with Energy Conservation award in a recent function held at Vigyan Bhavan, New Delhi.
A panel headed by C Rangarajan, has suggested linking price of domestically-produced natural gas to international benchmarks.
Cairn, which produces 175k bpd from Rajasthan oilfields, has been unable to raise its output because of an earlier interpretation of PSC.
The project may now be executed only by December 2014, according to EIL’s estimate.
LPG consumption drops after number of subsidised cylinders capped at six per year.
OilMin may raise prices of diesel by Re 1 a litre or that of cooking gas by Rs 100 to neutralise the impact of increasing subsidised cylinders supply.
The panel had suggested a review of the existing contracts following adverse comments from the Comptroller and Auditor General of India.
Oil ministry decision will enable Reliance Industries to prepare a field development plan and extend its deep-water portfolio beyond KG-D6.
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