Fuel price cut depends on global scenario: Deora

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Posted: Monday, Jul 06, 2009 at 0049 hrs IST
Updated: Monday, Jul 06, 2009 at 0049 hrs IST

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Fuel prices to be rolled back if crude dips: Deora No oil price hike immediately, says Deora

Chennai: Justifying his government’s decision to hike the price of petrol and diesel, Union minister for petroleum Murali Deora, at a function on dedication of Chennai Petroleum Corp Ltd (CPCL) sea water desalination plant, said government will go for downward revisioning of prices when the crude oil prices in the international market would cool off. He refused to comment on the issue of production sharing agreement between RIL-RNRL over KG basin as the matter is pending in the court.

Deora dedicated the Rs 49-crore Manali refinery Chennai ATF(aviation turbine fuel) pipeline connecting the refinery with Chennai airport and Rs 244-crore 5.8 MGD (million gallons a day) captive desalination plant of CPCL at the function. Union minister of civial aviation Praful Patel, in his address to media on the token strike of Air India employees over delaying of wage disbursement, said his ministry has agreed upon a formula for wages to be paid in a particular fashion and at a particular time. He urged the employees and management to do introspection to bring back the airline on a healthy track. He assured that his ministry will not resort to sacking. The minister said the airline will undergo management restructuring and financial revamping to restore the health of the company.

Deputy chief minister of Tamil Nadu MK Stalin made a plea to Deora to set up an institute of petroleum research in the state in the event of gas discoveries in the Kaveri basin. He also appealed to the ministry to sanction the Rs 2,680-crore gas pipeline infrastructure project connecting Tamil Nadu directly with Kaveri-Godhaveri basin. Stalin further iterated the longpending demand of his government with the centreto set up southern gas grid in the state.

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