The oil and power ministry are seeking financial aid for stranded gas-based power plants.
Oil minister Dharmendra Pradhan is looking to seek RBI‘s consent to extend commercial operation date by one year. The ministry also hopes to get the repayment schedule extended from 10 to 25 years.
The price that ONGC is getting for gas from its fields in Gujarat and Andhra Pradesh is almost double of the USD 5.61 per million British thermal unit rate that the government decided for all domestically produced gas.
While RIL began oil production from its KG-D6 block in September 2008 and gas output in April 2009, ONGC, which has made 11 oil and gas discoveries in KG-D5 block, still is at least four years away from first gas.
There are around 18 ministers crucial for outcomes â€“ of which seven have to deliver independently, and the remaining 11 in partnership with Modi‘s PMO. Or at least half-deliver.
In an interview to CNBC-TV18, oil minister Dharmendra Pradhan said the government has considered all aspects before linking diesel prices to market.
Diesel is a government controlled commodity on which oil companies started to make maiden profit only last month.
Both the countries decided to "strengthen and deepen bilateral cooperation on the basis of the strategic partnership with focus on political, defence and security cooperation, economic cooperation, science and technology, culture and people-to-people links, technical cooperation and multilateral and regional cooperation."
An investment of about Rs 1 lakh crore will be made in Odisha in the next five years in petrochemicals and oil and gas sectors including strategic oil reserves, Petroleum Minister Dharmendra Pradhan said today.
Stating that the concept of 100 percent City Retail Outlet Automation is a key initiative launched by Indian Oil, the company said that in the current financial year, it plans to automate more than 20 cities.
Sudhir Vasudeva, former chairman and managing director of ONGC says cost of gas production needs to be raised from USD 4.4 mmBtu soon. He believes gas pricing is the biggest issue faced by oil and gas companies now and an increase in prices is a must at this point.
â€œWe have16 crore LPG customers, those who are needy, those who desire, their subsidies will go directly to their bank accounts. My ministry is on the track, on the job to link these bank accounts and customer base", says Minister of petroleum and natural gas Dharmendra Pradhan.
BJP General Secretary Dharmendra Pradhan today said the Congress-led UPA government was in "coma" and election could take place any time in the country.
Former Karnataka Chief Minister BS Yeddyurappa on Tuesday remained firm on his resolve to float a new political outfit and his exit from the BJP.