Good Food is First Food. It is not junk food. It is the food that connects nature and nutrition with livelihoods. This food is good for our health; it comes from the rich biodiversity of our regions; it provides employment to people. Most importantly, cooking and eating give us pleasure. …
A panel headed by Prime Minister's Economic Advisory Council Chairman C Rangarajan has proposed creating a mechanism to carry out "concurrent audit" of blocks where companies have invested over $1 billion, enabling the government to keep a real-time vigil on the books of oil and gas producers. "(In cases) where …
The panel, headed by Prime Minister’s Economic Advisory Council Chairman C Rangarajan, was tasked to suggest design of future contracts for exploration and production of oil and gas The Rangarajan committee is believed to have suggested a complex pricing formula that will lead to near-doubling of the natural gas price …
The oil ministry has approved further exploration in Cairn India's operational oilfields in Rajasthan to increase production. “The proposal was pending with us for more than one and a half years. According to the existing PSC, the contractors are not prohibited for exploration in producing fields, however, we have given …
For the past 29 months, the court case between NTPC and Reliance Industries (RIL) on two gas-based power plants in Gujarat has not come for hearing at the high court here. NTPC took RIL to court in December 2005, after the latter would not sign a gas sale and purchase …
EXPLORING REFORMS Wants cost-recovery clause removed, end to govt role in micromanaging fields, tax holiday extension The Rangarajan panel has recommended the end of the controversial system of oil firms recovering their costs from sale of oil and gas in all future contracts and suggested a transparent structure for sharing …
Close on the heels of the government rejecting the standing committee on finance's decision to keep 26% FDI cap in the insurance sector, fresh tension is brewing between the parliamentary panel on petroleum and natural gas and the Centre over a proposal to limit the sale of subsidised cooking gas …
The committee for strict monitoring of KG D6 block operator The Parliamentary Standing Committee on Petroleum and Natural Gas has expressed its disappointment over the Petroleum Ministry’s failure to initiate penal action against Reliance Industries Ltd. (RIL) for its failure to achieve the production outlined under the Field Development Plan …
The coal ministry is likely to move a cabinet note seeking permission for Coal India to extract coal bed methane (CBM) in its leasehold areas, the chairman of the state-run miner has said. The development follows a request by Kolkata-based Coal India that instead of auctioning new CBM blocks in …
CIL looks into shale gas, coal-bed methane options The world’s largest coal producer Coal India Ltd (CIL) may diversify into coal-bed methane (CBM) and shale gas. Amid the turf war between the petroleum ministry and coal ministry over the authority over natural resources like CBM and shale, the Kolkata-based coal …
Though the work at 5-MTPA Kochi terminal is likely to be completed in the current fiscal (FY13), the non-availability of pipeline infrastructure will limit the benefits Petronet LNG has gained more than 32 per cent since the closing lows of Rs 122.77 in May 2012. The rise comes on the …
Deploring the government for introducing a cap on subsidised LPG cylinders in an arbitrary manner, the Parliamentary Standing Committee on Petroleum and Natural Gas has asked the government to review the cap of six cylinders a household a year. It said such restrictions should not be placed on people having …
Block may contain over 100 million barrels of condensate or light oil and 3 trillion cubic feet of gas The government has given Reliance Industries the go-ahead to appraise its discovery in the Cauvery basin, enabling the company and its partner BP to prepare a field development plan and extend …
Stating that Reliance Industries Limited (RIL) had not granted full access to KG-D6 block records to Comptroller and Auditor General (CAG), Petroleum and Natural Gas Minister M. Veerappa Moily, on Tuesday, told Parliament that CAG had said that since full access to KG-D6 records was pending, the Petroleum Ministry should …
Cabinet will have to clear proposal: Moily The Manmohan Singh government indicated on Tuesday that the cap on the subsidised LPG cylinders would go up from six to nine a household a year. “I think it is likely to go up definitely from six to nine cylinders, and the Cabinet …
Coal India (CIL) may be allowed to extract coal-bed methane (CBM) from its vast leasehold mining areas soon, opening new business avenues and boosting revenues for the state-owned coal monopoly. Current rules prohibit coal miners from extracting methane released during the mining process, wasting a valuable natural resource. “We have …
Following the tough stand taken by the Comptroller and Auditor General (CAG) against buckling down to any conditions for undertaking audit of Reliance Industries Limited’s (RIL) KG-D6 oil and gas block, the Petroleum Ministry has asked RIL to submit itself to CAG audit warning that any further delay would be …
New Delhi: The oil ministry has withdrawn a note — prepared under then minister S Jaipal Reddy’s watch — documenting its opposition to any premature increase in price of gas Reliance Industries (RIL) is pumping from its showcase Andhra offshore field. The note was circulated in October among members of …
Asks Petroleum Ministry to withhold approvals for their failure to submit records Upset at the repeated failure of Reliance Industries Limited (RIL) to submit for audit records and information relating to the Krishna Godavari D6 block, the Comptroller and Auditor-General has asked the Petroleum Ministry to withhold all approvals to …
Chief Minister Sheila Dikshit on Friday asked the Centre to ensure supply of gas to the Bawana power plant as power production at the facility remained severely affected due to shortage of fuel. At a meeting with Union Petroleum Minister M. Veerappa Moily, Ms. Dikshit asked him to ensure supply …
Parliament’s standing committee on finance has summoned senior petroleum ministry officials to explain the revenue implication of falling gas production from Reliance Industries Ltd’s (RIL’s) D6 block in the Krishna-Godavari basin (KG-D6) and the company's demand to increase the price. Earlier this month, it had questioned the finance and revenue …
