The Union Petroleum and and Natural Gas Minister Marpadi Veerappa Moily has said that his ministry alone can save about 600 litre of petrol and diesel worth over Rs 40,000 by travelling by public transport. He traveled by the Delhi Metro rail on October 9.
Tag: Marpadi Veerappa Moily
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Work on LNG terminal at Mangalore to begin in Nov
Union Minister for Petroleum and Natural Gas Marpadi Veerappa Moily has said that the construction of an LNG import terminal at Mangalore will commence in next November. At present, companies ONGC, Bharat Petroleum Corp Ltd. (BPCL), Mitsui and New Mangaloe Port Trust (NMPT) are surveying the feasibility of the LNG terminal, say media reports.
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Work on LNG terminal in Mangalore to start in Nov
Union Minister for Petroleum and Natural Gas Marpadi Veerappa Moily has stated that work on the new LNG (liquefied natural gas) import terminal at Mangalore will begin in next November. A feasibility study on the terminal is being carried out by a consortium of ONGC, BPCL, Mitsui and New Mangalore Port Trust (NMPT).
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India has become attractive for gas exploration: Moily
Union Oil Minister Marpadi Veerappa Moily has said that India has become an attractive investment destination for gas exploration because it has decided to raise gas prices from April, which will also contain the spurt in gas demand. Investors had been shying away from investing in India because of low prices of domestic gas. But now the government has decided to raise the price of gas from next financial year, which would make India an attractive destination for investment in the sector, the Mi
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PM tells Moily to cut oil imports by $25 bn
The Prime Minister Manmohan Singh has asked the Union Oil Minister Marpadi Veerappa Moily to save $25 billion on oil imports in the current fiscal year, so that it can help the country narrow its current account deficit (CAD).Moily said and added that oil is one of the components which is responsible for CAD.
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Moily says India to save $8.5 bn via Iran oil imports
By increasing crude oil imports from Iran, India plans to save over $ 8.5 billion in foreign exchange this fiscal, said the Union Petroleum and Natural Gas Minister Marpadi Veerappa Moily. Moily told this to Prime Minister Manmohan Singh in a written communication on August 30. India, which paid about $144.29 billion last fiscal for importing oil, is renewing imports from Iran and, unlike imports from other countries, it pays Iran in rupees.
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Cabinet to discuss shale oil and gas exploration policy
A top official of the Union Ministry of Petroleum & Natural Gas has stated that the ministry has finalised a shale oil and gas exploration policy, which will be tabled before the cabinet soon after the oil minister Marpadi Veerappa Moily approves it. However, in contrast to the Oil Ministry's statement, the Ministry of Environment and Forest said that exploitation of shale resources could lead to water crisis in India.
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Moily meets Finance Minister, may hike diesel prices
In the backdrop of rupee's fall against dollar and the escalation of Syrian crisis ballooning oil import bill, Union Petroleum Minister Marpadi Veerappa Moily on August 29 met Finance Minister P Chidambaram to discuss possible solutions to the crisis. Sources said that the oil minister discussed with Chidambaram the diesel price hike of Rs 3-4 per litre and cut in duties.
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PM tells Moily to cut oil import bill by $25 bn
The Union Oil Minister Marpadi Veerappa Moily on August 27 said that to reduce the current account deficit (CAD), the Prime Minister Manmohan Singh has sought $25 billion cut in oil import bill. India is renewing imports of the fuel from Iran as unlike imports from other countries. It pays the Persian Gulf nation in rupees. India paid about $170 billion last fiscal for importing oil.
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OMCs float tender for 133 cr litre Ethanol
The Union Minister of Petroleum & Natural Gas Marpadi Veerappa Moily informed the Lok Sabha in a written reply recently that the government has further decided on last July 3 that Oil Marketing Companies (OMCs) will procure ethanol from domestic sources to achieve the mandatory requirement of 5 per cent ethanol blending with petrol by October, 2013 in areas/parts of the country where sufficient quantity of ethanol is available.
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