Prices could double by 2014 leading to hike in power tariff and fertilizer cost

Despite opposition from within the Cabinet and outside, the Manmohan Singh government on Thursday approved a doubling of natural gas prices from the present $4.2 mbtu to $8.4 mbtu from April 1, 2014.

Faced with prospects of a continued decline in economic activity, a tumbling rupee and falling investor interest, Prime Minister Manmohan Singh on Thursday directed the fast-tracking of infrastruct

Petroleum and Natural Gas Minister Veerappa Moily, on Tuesday, said various state-run companies in the oil and gas sectors had initiated talks with international players to buy as much as 20 millio

Goal for stabilising global temperatures nowhere in sight, he laments

India had launched a new initiative to double the renewable energy capacity to 55,000 MW by 2017 by exploiting non-conventional energy sources such as solar, wind power and energy from biomass, Prime Minister Manmohan Singh said here on Wednesday. Delivering the inaugural address at the fourth Clean Energy Ministerial here, Dr. Singh however, expressed serious concern at the “painfully slow” progress of climate change talks. He regretted that the goal of stabilising global temperatures at acceptable levels was nowhere in sight.

The Planning Commission has recommended switching to the international pricing formula for natural gas — which presently works out to $14.5 per MBTU, almost three times more than the present price

In a significant development indicating a sub-regional strategic alliance, Nepal, India and Bangladesh (NIB) have decided to join hands to cooperate and exploit the hydropower sector and use water resources management for mutual advantage, including jointly developing and financing projects in the Ganga river basin.

Indicating its seriousness to give a boost to this initiative, India has already approved the composition of a working group on water and power that will coordinate with Bangladesh and Nepal.

The Comptroller and Auditor General (CAG) has agreed to resume the audit of Reliance Industries Limited’s (RIL) KG D6 block following assurances given by the Petroleum and Natural Gas Ministry that

An inter-ministerial committee will meet on March 7 to deliberate on allocation of 17 coal blocks to public sector undertakings (PSUs). The blocks have estimated reserves of 8.45 billion tonnes.

The panel will deliberate on the feedback received from the State governments after scrutinising the applications from PSUs. The Coal Ministry has said that the inter-ministerial technical committee, under the chairmanship of Advisor (Technical), will meet to consider inputs received from the Central Mine Planning & Design Institute Limited (CMPDIL) and State governments and administrative Ministries concerned.

It will investigate the role of public servants in undue favours to private firms

In a significant development, the Central Bureau of Investigation has decided to widen its probe into Coalgate, covering allegations that the delay in tabling of the Mines and Mineral (Development and Regulation) Amendment Bill, 2008, in Parliament was deliberate. The CBI has found out that the system the authorities adopted for the formation of joint ventures was not transparent and accused public servants of vested interest in the award of the contract for development of mines or forming joint ventures with private parties, unduly benefitting a large number of private firms, it said in an affidavit filed in the Supreme Court, which is hearing a petition on the scam.

It seeks Petroleum Ministry’s intervention to ensure audit of KG-D6 block is not carried out under CAG (DPC) Act

The Mukesh-Ambani-owned Reliance Industries Limited (RIL) has written to the Petroleum and Natural Gas Ministry seeking its intervention and an assurance that the audit of the KG-D6 block by the Comptroller and Auditor-General (CAG) would not be carried out under the CAG Duties, Powers and Conditions of Service (DPC) Act and that the CAG should clearly distinguish between its audit of the Petroleum Ministry and that of RIL.

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