Archive for the ‘murli deora’ tag

Cairn chief meets Oil Minister on stake sale to Vedanta

A day after agreeing to sell majority stake in its India subsidiary for $8.48 billion, UK’s Cairn Energy Plc top management today met Oil Minister Murli Deora and other key officials to clear any regulatory roadblocks to the deal with Vedanta Resources.

Energy At What Cost?

Shale gas has emerged as the new focus area in India as the country’s Oil Minister, Murli Deora, has announced that the first shale gas acreage will be offered in 2012.
 
As of now only oil and gas had been explored.

In a year’s time there will also be in place a shale gas policy so that three basins of Assam-Arakan (in the North-East) and Gondwana (in central India) and Cambay (in Gujarat) can be exploited.

The news portends well for Indian consumers and also domestic firms that have initiated to seek expertise in the US shale gas sector.

Definitely all sorts of studies, feasibility tests and geological surveys will be employed to ascertain prospective areas.

But the question here is whether the government and experts in the field have made a thorough assessment of the long term implications of shale gas exploration.

Energy resource-exploitation has always unfolded stories of large scale climate degradation.

This becomes more relevant in the wake of the recent BP oil spill off the American coast.

Closer home, the recent collision of oil carrying ships off Mumbai, the Maoist violence due to exploitation of natural resources in the Red corridor and the Union Carbide fiasco, calls for strict regimens.

Existing oil and gas reserves are definitely not adequate for demands of a fast growing industrial economy and various unconventional options are being investigated.

It seems that in the quest to satiate India’s energy needs and to notch up growth indicators governments choose to look the other way, thereby increasing costs in terms of sustainability and funds in the long term.

Cautionary voices have emanated from the US government corridors that seek an in-depth study of the ill impact of shale gas exploration.

To cater to about 10 per cent of the US consumption, that is gas based, the technique of “hydraulic fracturing” is employed. This requires pumping water and chemicals into boreholes at huge pressures to crack open rock layers and releasing gases trapped within them.

The entire process needs large quantities of water, already scarce, and also results in polluting underground water apart from creating scope for future seismic activities.

Along with this the yet unknown long term impact has multiplied worries.
US investors have called for thorough studies on safety aspects of drilling for natural gas in shale formations in the USA and for promulgation of stricter restrictions and rigorous rules on energy firms that carry out any exploration.

Many companies have also faced shareholder resolutions that clamored for better safeguards against environmental damage from hydraulic fracturing or “fracking.”

US state regulators have directed energy firms to put up information on exploration and fracking technology in the public domain (websites, etc) so that there is more transparency and heightened awareness, all of which go towards controlling risks.

Lately reports suggested that the Pennsylvania lawmakers are deciding upon legislations to make it mandatory for energy firms to disclose various chemicals used in fracking and for placing a moratorium on fresh gas drilling in its forests until a through study of the impact has been concluded.

New York State officials are also mulling whether fracking should be allowed in Marcellus Shale, while the Philadelphia city council has called for a temporary ban on fracking in the Delaware River watershed.

Next year the US government will be conducting a national study to probe into fracking and determine whether and to what extent the technique contaminates drinking water.

It would also do well for the energy firms to bear in mind financial liabilities and depreciation of their shares that follow environmental risks.
  
Mining and digging large chunks of earth have never been new and one need just look at the dismal state of affairs that have been wrought.

All this implies that the Government of India should take a leaf from this US chapter to embark on its energy options in more safe and sustainable ways.

As it is India has lost too many forests, natural resources, sustainable tribal living ways, etc.

The pledge that our country’s power dealers made for containing climate change at various international summits beckons some truth in its action towards containing damage.

 

Sushma questions absence of ministers

Leader of Opposition in the Lok Sabha Sushma Swaraj today questioned the absence of Finance Minister Pranab Mukherjee, Petroleum Minister Murli Deora and Agriculture Minister Sharad Pawar when the house was about to begin a discussion on the price rise and fuel hike issues.

Deora asks states to follow Delhi in reducing taxes

Petroleum Minister Murli Deora on Friday praised the Delhi government for reducing the value added tax on diesel, which will bring down its price by Rs 2.70 per litre, and called on other states to follow its example.

Government intervention if crude oil prices turn volatile: Deora

The central government will step in to regulate the decontrolled price of petrol if crude oil rates turn highly volatile in the international markets, Petroleum and Natural Gas Minister Murli Deora on Friday said.

Government intervention if crude oil prices turn volatile: Deor

The central government will step in to regulate the decontrolled price of petrol if crude oil rates turn highly volatile in the international markets, Petroleum and Natural Gas Minister Murli Deora Friday said.

Fuel hike: Deora hits out at opposition for ‘misleading’ people

Oil minister Murli Deora on Friday indicated there would be no rollback in fuel price hike and hit out at opposition for “misleading” people on the impact of the rise.

Oil firms to invest $1.1bn: Govt

Oil minister Murli Deora said on Wednesday companies have committed an investment of $1.1 billion in the eighth oil and gas blocks auction round held in 2009.

Protests in Assam over fuel price hike

Several organisations and political parties in Assam were protesting against Centre’s decision to hike prices of fuel. The All Assam Students Union (AASU) has burnt the effigy of Union Petroleum minister Murli Deora in protest against the group of ministers decision to de-control fuel prices.

Deal talk: Anil Ambani meets Murli Deora

A day after the Supreme Court’s six-week deadline for the Ambani brothers to finalise a gas supply pact ended, Anil Ambani met Union Petroleum Minister Murli Deora on Tuesday and sought his support over gas supplies to his group’s upcoming power plants.

Market pricing of fuel will not hit people: Deora

Oil Minister Murli Deora said today that market-driven prices of fuel would not hurt people, a day after the government deferred a decision to raise prices.

Politics to production

Mukul Deora, India’s Union Petroleum minister Murli Deora’s son, will make his Bollywood debut with Bheja Fry 2.

India to partner US in development of shale gas

March 31: India’s endeavour to attain energy security received a leg up after United States (US) offered to partner Asia’s leading energy consumer to develop shale gas.
The partnership has been discussed between the petroleum minister, Mr Murli Deora, and the US deputy secretary of energy, Mr Daniel Poneman, on the sidelines of 12th International Energy Forum in session at Cancun, Mexico on T

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National finances don t allow rollback of fuel prices Deora

Petroleum minister Murli Deora on Saturday said here that the country should stop talking about rolling back the fuel price hike as the nation’s financial condition does not allow that to do so.

Pilot project for translucent cooking gas cylinders

In a bid to let customers see the quantum of cooking gas being sold by oil retail companies, the government has approved a pilot project for the launch of translucent containers of the fuel in Bangalore, Chennai, Mumbai and Pune.

“If successful, translucent liquefied petroleum gas (LPG) cylinders would be launched throughout the country,” Petroleum and Natural Gas Minister Murli Deora told the

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RIL need not club gas margin Deora

Oil Minister Murli Deora on Tuesday said Reliance Industries need not club its marketing margin with the gas sale price for purpose of calculating royalty — a statement that overturns a suggestion by oil regulator DGH.

No fuel price hike for now

Facing opposition from key allies in the UPA Government, Finance Minister Pranab Mukherjee and Oil Minister Murli Deora on Sunday discussed an “all-acceptable” hike in fuel prices but it appeared the two failed to reach a consensus and the fuel price hike may not happen immediately.

Deora FM meet to talk fuel price rise

Petroleum Minister Murli Deora will meet Finance Minister Pranab Mukherjee on Sunday to finalise the details of the fuel price hike proposal.

Deora discusses fuel price hike proposal

Petroleum Minister Murli Deora today started consultaions with political parties, including UPA’s partners, ahead of taking a proposal to increase fuel prices to the Union Cabinet, possibly tomorrow.