CCI clears oil, gas projects worth Rs 7,947 cr

CCI clears oil, gas projects worth Rs 7,947 cr

Five oil and gas projects totally worth Rs 7,947 crore have been cleared by the Cabinet Committee on Investments (CCI), Petroleum Minister M Veerappa Moily said on Friday.

The pending projects were cleared on December 9, Moily told reporters here. 

These projects include laying and renovating pipelines of Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Chennai Petroleum Corporation (CPCL).

A Rs 2,379-crore project by state-run explorer Oil and Natural Gas Corporation (ONGC) for refurbishing surface installations and pipelines has also been cleared, the minister said.

Among the projects approved by CCI is the proposed Rs 5,200 crore LNG (liquefied natural gas) terminal project of the Gujarat State Petroleum Corporation at Mundra.

Regarding the scheme for direct transfer of cooking gas subsidy into bank accounts, launched earlier this year, Moily said that as on December 1, Rs 1,615 crore worth of subsidy has been transferred to bank accounts of 1.274 crore customers.

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