Oil minister Dharmendra Pradhanburned the midnight oil on Thursday with his ministry officials and top honchos of oil companies in an effort to figure out a way to reduce fuel prices.
With opposition parties mocking the one paisa cut in the prices of petroleum products, Petroleum MinisterDharmendra Pradhan on Wednesday said the prices are decided by the oil companies and the government has no role in it.
The Narendra Modi government will match the 67-year record of previous governments by providing liquified petroleum gas (LPG) connections to 130 million families in five years of its tenure, petroleum and natural gas minister Dharmendra Pradhan said on Wednesday.
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Thursday said that the reduced value of the Indian rupee in comparison to the US dollar is causing fuel price hike.
Officials from the petroleum ministry have said that the government will ask ONGC to sell it’s fuel to refiners and distributors at around $70 a barrel.
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan said that they have appealed to the Odisha government to reduce the tax on petrol and diesel for the benefit of people.
With global crude prices touching USD 80 a barrel, Oil Minister Dharmendra Pradhan has pressed OPEC kingpin Saudi Arabia to keep prices stable and moderate, saying that spike in rates would have a negative impact on Indian consumers as well as the economy.
India, the world’s third largest oil consumer, said on Thursday it had received assurances from the world’s top oil exporter Saudi Arabia it would ensure adequate supplies to keep a lid on soaring oil prices.
India’s energy mix will be substantially complemented by renewable energy and the country is going to generate around 175 Gigawatt of energy from such sources, Minister of Petroleum and Natural Gas Dharmendra Pradhan has said.
Oil Minister Dharmendra Pradhan today unveiled to investors here India’s upcoming second round of auction of discovered oil and gas fields, and said that over 195 million tonnes of hydrocarbon reserves would be put on offer.