On the domestic front, Mr Deora hoped that there would be no need for further issueof oil bonds to state-run oil retailing companies as global crude prices have softened.
When asked whether any more bonds would be needed, he said: ``I hope not.''
The Government issued oil bonds to state-owned oil marketing companies to partially offset the under recoveries suffered by them for selling the petroleum products below the cost price.
The Indian crude basket after hitting the lowest since April 2006 on January 17 at $49.85 a barrel moved up to $51.80 a barrel on January 23. The average for January to date (January 23) stood at $52.16 per barrel, and the average for April 2006 to date (January 23) stood at $63.49 a barrel.
