THE finance ministry has approved an oil ministry’s proposal to provide cooking gas connections to over 7 million poor families in rural areas for just Rs635 per unit, a senior government official said.
The delay in concluding Cairn Energy’s $9.6-billion deal with Vedanta is caused by the British firm’s insistence that the transaction did not require prior approval of the government , says petroleum secretary S Sundareshan.
The government’s plan to offer tax incentives based on investments made by companies is expected to attract big overseas investments in the next round of bidding for oil and gas blocks.
Petrol and diesel have become costlier by up to 50 paise a litre in the country, barring 13 cities, after India switched over to cleaner Euro-III fuel on September 22.
Turkmenistan, Afghanistan, Pakistan and India have agreed to rope in a global energy major to execute and manage a $7.6-billion natural gas pipeline running their land, brightening the prospect of a steady flow of gas from central Asia to energy-hungry South Asia.
The government is finalising a new policy for exploring shale gas that will provide states a share of the profit booty that exploration companies give as profit petroleum to the Centre.
Other public sector fuel retailers- Hindustan Petroleum and Bharat Petroleum- will follow the market leader by raising petrol price between 28 and 26 paise, respectively.
Govt plans to rationalise subsidy on LPG by excluding the rich from getting subsidised cylinders.
Taking a cue from IOC, several other public-sector oil companies, ONGC, are looking at hiring engineers in entry-level positions based on the GATE.
A consortium of state-run oil cos plans to seek a one-time reprieve from the US sanctions against Iran to develop Farsi gas field during Obama’s India visit.
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