The oil ministry has reassured the downstream regulator that it is empowered to demand commercial data from gas utilities.
Govt is gearing up to remove roadblocks to attract investments in oil & gas exploration & resolve contentious issues such as pricing of KG-D6 gas.
The government has directed public sector insurers to cover Indian ships carrying crude oil from Iran.
Energy firms have committed investments worth $582.29 million in oil and gas exploration from 13 blocks, awarded in the recent bidding round, the oil ministry said.
According to officials fuel pricing reforms are expected after mid July post Presidential poll, which would include a hike in diesel rates by atleast Rs 3/litre.
Kaushik Basu panel has also suggested that diesel prices should be allowed to fluctuate in a band in step with global prices.
Essar is the only private fuel retailer in India which has been able to keep all its 1,400 petrol pumps operational despite cheap sale from rival state firms.
India imports more than 80% of its crude oil requirements and pays in dollar, which is one of the main reasons for continued depreciation of the rupee.
Currently, Western insurance companies insure Indian ships transporting Iranian crude oil as no domestic companies offer similar cover.
Reliance Industries and its partners BP and Niko Resources plan to invest $4 billion to develop satellite fields in the D6 block.
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