Press Esc to close
Sunday 19 April 2015
News updated at 6:04 PM IST
Weather
Max: 33.4°C
Min : 21.6°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
Guru Sai Dutt of PSPB and Neha Pandit of Airport Athority Of India won the men and women title...

Guru Sai Dutt of PSPB and Neha Pandit of Airport Athority Of India won the men and women title...

Tibetan Spiritual Leader Dalai lama and Archbishop and Nobel Laureate Desmond Tutu...

Tibetan Spiritual Leader Dalai lama and Archbishop and Nobel Laureate Desmond Tutu...

Nuns of Missionaries of Charity wait in a queue to cast their vote infront of a polling centre...

Nuns of Missionaries of Charity wait in a queue to cast their vote infront of a polling centre...

A langur eats potatoes being sold by a roadside vendor in Ahmadabad...

A langur eats potatoes being sold by a roadside vendor in Ahmadabad...

Leopard seen in new glass enclosure at Sri Chamarajendra Zoological Garden in Mysuru...

Leopard seen in new glass enclosure at Sri Chamarajendra Zoological Garden in Mysuru...

KSRTC buses standstill due to the 'bundh' called by the Kannada Okkuta...

KSRTC buses standstill due to the 'bundh' called by the Kannada Okkuta...

Karanaji Lake in Mysuru...

Karanaji Lake in Mysuru...

A little boy of a migratory family walks freely at BMTC bus stand...

A little boy of a migratory family walks freely at BMTC bus stand...

.A tourist drinks water on the roadside during a visit to Jantar Mantar...

.A tourist drinks water on the roadside during a visit to Jantar Mantar...

Various kinds of articles attracting the viewers exhibited during Rajasthani Mela...

Various kinds of articles attracting the viewers exhibited during Rajasthani Mela...

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