Press Esc to close
Tuesday 24 May 2016
News updated at 11:06 PM IST
Weather
Max: 34.1°C
Min : 22.7°C
In Bengaluru
Sunny day

Exploration policy on shale gas soon: Moily

Mangalore, Dec 7, 2012, DHNS :

‘We will initiate measures to reduce crude oil import’

Kanara Chamber of Commerce and Industry President Mohammed Ameen felicitates Union Minister of Petroleum and Natural Gas M Veerappa Moily in Mangalore on Friday. dh photo

 A roadmap is being prepared to reduce India’s import of crude oil by 2016-17, said Union Minister of Petroleum and Natural Gas M Veerappa Moily.

Speaking after accepting felicitation, at a programme organised by Kanara Chamber of Commerce and Industry (KCCI) here on Friday, he said, “We are now coming out with an exploration policy on shale gas and oil. The US and Australia has explored this sector in a big way. Shale gas and oil is available in plenty in India and with this we can cut down imports," he said.

He said that a comprehensive holistic road map in making country self-sufficient in producing oil and gas is being prepared and added that refinery capacity in the country needs to be increased.

“Talks are being held to increase LPG subsidy cap to nine cylinders. However, we have not yet received green signal from the finance ministry with regard to subsidy. Hence, the decision is yet to be taken. It shall be taken soon, as this should not cause hindrance to mid-day meal scheme and working of charitable institutions,” he said.

Liquefied Natural Gas pipeline laying work from Kochi and Bangalore to Mangalore is in process. Steps are taken to accelerate the process, as Karnataka is the only state which lacks LNG terminal, he said.

Moily claimed that he can create employment opportunities for everyone in DK and Udupi districts in a matter of two years, provided the people cooperate.

Speaking on Foreign Direct Investment (FDI) in retail market, Moily regretted that people have misconceptions. With introduction of FDI, there will be massive development and people can see growth in industrial, agriculture and trade sectors.

“Nothing is impossible in this country. We have plenty of opportunities. All people need to do is to overcome prejudices,” stressed Moily.

He said that air cargo complex in Mangalore International Airport will be completed soon. It will be inaugurated by mid January, he said.

Memorandum


Kanara Chamber of Commerce and Industry President Mohammed Ameen submitted a memorandum to Union Minister of Petroleum and Natural Gas M Veerappa Moily asking for duty free bunkers for coastal shipping, intra trade between oil marketing companies, gasifying coal, cracking light naptha for overcoming LPG shortage, LNG for Karnataka through NMPT coastal waters, promotion of hydro carbon study from coastal Karnataka region, fixation of refinery point rates for petroleum products of MRPL, geo technical and hydro geological surveys.

The memorandum also asked the Union Minister to look into the bottlenecks pertaining to MSEZ, such as Development of Pipeline Corridor, Obtaining Right Way towards development of water infrastructure with permission from NH, relief from minimum alternate tax, securing multi product status for MSEZ under phase II and setting up of MSEZ second phase.

Earlier, the minister had visited MRPL and met senior officials. Moily on his maiden visit to MRPL reviewed performance of MRPL and OMPL operations. Moily applauded performance as MRPL that was set up during his tenure as CM and that it gives him immense satisfaction to see it today as a 15 MMT state-of-the -art refinery, serving the nation.


Go to Top

Photo Gallery
Girls cover themselves during a dust storm in mathura on Monday...

Girls cover themselves during a dust storm in mathura on Monday...

Renowned sand artist Sudarsan Pattnaik creates a sand art to aware people about water scarcity...

Renowned sand artist Sudarsan Pattnaik creates a sand art to aware people about water scarcity...

English actor Sir Ian McKellen and Bollywood actor Aamir Khan share lighter moments...

English actor Sir Ian McKellen and Bollywood actor Aamir Khan share lighter moments...

A senior Army Officer presents the Sher-e-Kashmir Sword of Honour to a new recruit...

A senior Army Officer presents the Sher-e-Kashmir Sword of Honour to a new recruit...

People watching the air ambulance which crash landed at Kair village in Najafgarh area...

People watching the air ambulance which crash landed at Kair village in Najafgarh area...

Demi Moore poses for photographers as she arrives for The Vogue 100 Gala Dinner...

Demi Moore poses for photographers as she arrives for The Vogue 100 Gala Dinner...

Nuremberg and Frankfurt players jump for the ball during a German first division Bundesliga soccer..

Nuremberg and Frankfurt players jump for the ball during a German first division Bundesliga soccer..

People hang fish to dry on bamboo poles in Mumbai...

People hang fish to dry on bamboo poles in Mumbai...

A cyclist with his daughter pedals his cycle holding an umbrella...

A cyclist with his daughter pedals his cycle holding an umbrella...

An elderly vendor waits for customers of green grass during rains in Srinagar....

An elderly vendor waits for customers of green grass during rains in Srinagar....

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523