-The Times of India The Comptroller and Auditor General (CAG) has asked the oil ministry not to approve any more investments in Reliance Industries's KG-D6 oil and gas block till the company submits all records of its spending in the Andhra offshore field till 2011-12 for scrutiny. In a November 9 letter to the ministry, a top CAG functionary also suggested a similar action for the Panna-Mukta and Tapti (PMT) group...
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Dithering on all cylinders
-The Business Standard The sorry implications of the LPG price rollback Following the government’s decision to increase the price of diesel and introduce a cap on the number of subsidised gas cylinders available for household use in September, there was a reasonable amount of hope that the United Progressive Alliance (UPA) had learned some lessons. First, that it was essential to reduce the fuel subsidy bill, the most obvious component of the...
More »Serve fresh notice on RIL, Dasgupta writes to PM -Sujay Mehdudia
-The Hindu Says the whole country is waiting for a statement from Manmohan on the issue Terming the ouster of Jaipal Reddy from the Petroleum Ministry unfortunate and anguishing, Communist Party of India (CPI) Member of Parliament Gurudas Dasgupta on Thursday asked Prime Minister Manmohan Singh to serve a fresh notice on the Mukesh Ambani-owned Reliance Industries Limited (RIL) and restrict the cost recovery for 2012-13 by $1.72 billion for the shortfall...
More »LPG price hike, rollback within hours
-The Times of India Within hours of raising cooking gas prices, the government late on Thursday asked oil marketing companies to put on hold the Rs 26.50 hike, calling into question the seriousness of the deregulation plan and casting a doubt over the UPA's commitment to fiscal reforms. The U-turn came after a volley of protests by the opposition and days before Himachal Pradesh goes to polls, with Gujarat elections to follow....
More »Oil minister drills holes into Kejriwal’s charges
-The Times of India A day after India Against Corruption (IAC) charged the government with selling out to Reliance Industries Ltd (RIL) on the company's KG-D6 gas field off the Andhra coast, the oil ministry on Thursday hit back by describing the allegations as "baseless and frivolous". In a point-wise rebuttal to IAC charges, a ministry statement — issued after former oil minister Mani Shankar Aiyar met incumbent Veerappa Moily for over...
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