Petroleum and natural gas minister Murli Deora on Monday told a committee of Parliamentarians that the government will actively pursue acquisition of oil assets abroad to ensure energy security for the nation. The government will also take steps to make LPG available to three-fourth the population soon. Now it is available to nearly half of the population.
LPG coverage would be enhanced from the present 11 crore customers to 16 crore customers through the Rajiv Gandhi Gramin LPG Vitrak scheme, an official statement issued here said quoting Deora?s interactions with members of the consultative committee of MPs in Chennai.
The scheme facilitates setting up small size LPG distribution agencies and increase rural penetration. Now, the scheme has been launched in 8 states covering over 1,200 locations, where the reach of LPG is below half of the national average. The minister also told the panel that the SC has upheld the stand of the government that natural gas is a national asset and the authority for allocation and distribution of gas vests in government of India.
The minister also told the committee that ONGC Videsh Ltd, Indian Oil Corporation and Oil India in consortium with Spanish company Repsol and Malaysian Company Petronas have signed an agreement with Venezuela?s state-owned firm PDVSA for producing hydrocarbon from carabobo field in Venezuela.
Meanwhile, the members of the parliamentary consultative committee for the ministry of petroleum and natural gas, which met on Monday, differed on the issue of price rise for petrol and other fuels to compensate the oil marketing companies (OMCs) for their under recoveries. While some MPs were in favour of the price increase, others opposed it and suggested that the Centre should increase subsidies and not burden the consumers.
?The parliamentary panel plays only a consultative role. The decision will be made by the empowered group of ministers, which has to work out a formula for compensating OMCs for their under recoveries during 2010-11,? said minister for petroleum and natural gas Murli Deora.
