Search Result for : Oil Minister

The Dollar Business Bureau Union Oil Minister Dharmendra Pradhan said that India is taking a lead for creating an alliance of gas importers all over the world for ‘reasonable and affordable pricing’. Pradhan told the reporters, "We must have cooperation between all the LNG (Liquefied Natural Gas) and gas consuming countries, we must create a situation for a reasonable, rational and affordable price. India is taking the lead to create a network between these major gas consumers.” He added that calling gas an important fuel will be an important constituent for the country’s energy basket. The state-run GAIL is taking a lead in the negotiations between companies at the international level. GAIL is already in contact with the companies in South Korea and Japan. ...

The Dollar Business Bureau Starting the first roadshow to auction the 46 discovered small gas and oil fields, Dharmendra Pradhan, Minister for Petroleum and Natural Gas on Monday said that he is confident of receiving good response for blocks that are being auctioned with minimum conditionalities. Pradhan promised transparent regulations and better ease of doing business in the allocation of the blocks. “The present auction, as well as the newly declared Hydrocarbon Exploration and Licensing Policy (HELP), are both noteworthy improvements over the former New Exploration Licensing Policy (NELP) regime,” he added. “The purpose to shift from NELP to HELP is to make administrative and fiscal systems that are simpler and more transparent,” the minister said.As these blocks have no criteria for ...

The Dollar Business Bureau   Oil Minister Dharmendra Pradhan on Monday said the Saudi Arabian Oil Company Armanco is planning to purchase stakes in Indian oil refining and petrochemical projects. Pradhan met Khalid al-Falih, Chairman of Armanco, and asked for Saudi’s investment in a planned 1.2 million barrels per day (BPD) refinery for the expansion of Dahej’s Bina refinery and petro-chemicals. In order to meet the country’s growing oil demand, Bharat Petroleum Corporation, Indian Oil Corporation and Hindustan Petroleum Corporation are planning to build a 1.2 million BPD refinery in the country’s West Coast, costing more than Rs.1 trillion. In Central India, Bharat Oman Refineries Limited is increasing the capacity of Bina Refinery by 30%, while in Western Gujarat, OPAL, which is majorly owned by ...

We have returned 50% of fall in international crude oil prices to consumers while we have kept the remaining 50% in government treasury and invested in other sectors like social sector, said Oil Minister Dharmendra Pradhan Source: PTI To have a balanced fiscal strategy, we have invested the money saved in farm sector, infrastructure sector and the health sector, says the Minister     Government on Wednesday admitted it has onpassed the benefit of only 50% of the reduced international crude oil prices to the consumers and kept the remaining half for being invested in the social sector. With the Opposition in Rajya Sabha accusing the government of "appropriating" and "not passing" the benefit of fall in international crude oil prices to consumers, Oil Minister ...