Moily takes away five gas discoveries from Reliance

October 29, 2013

MoilyNew Delhi, Oct 29: Petroleum Minister Veerappa Moily has decided to take away five gas discoveries from Reliance Industries in the KG-D6 block for its failure to meet timeline, but allowed it to retain three other finds. The move comes in the wake of allegations that Reliance Industries benefited during his regime.

The five discoveries – D4, D7, D8, D16 and D23 – have a reserve of 0.805 trillion cubic feet or about one-fourth of restated reserves in the currently producing Dhirubhai-1 and 3 fields in the KG-D6 block. They are worth $10 billion.

In a prompt response, Communist Party of India’s Gurudas Dasgupta, who has been vociferously demanding cancellation of RIL’s contract, said Moily’s announcement “was a mere show of some action by the government.”

“They only want to show that they are doing something, but actually are not taking any action against RIL. They are cheating the people of the country, who will eventually have to pay the price for the gas sold by the company,” he told Deccan Herald. He objected to RIL retaining the D29, D30 and D31 discoveries.

Incidentally, the Directorate General of Hydrocarbons (DGH) wanted 1,130 sq km to be taken away from RIL on the ground that the timeline to develop the fields had lapsed.

RIL and its partner, British Petroleum (BP), had made a detailed presentation last month to Moily, Oil Secretary Vivek Rae and DGH Director-General R N Choubey. Denying deviation from the production sharing contract, they claimed to have the right to retain the 1,130-sq km area.

For the three finds covering 316 sq km, Moily agreed with RIL-BP that the DGH did not insist on a drill stem test (DST) for confirmation of a discovery in the past. He instead said there was a delay on the DGH’s part in reviewing them though RIL had submitted a declaration of commerciality for the three finds on time.

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Agencies
July 7,2020

India's COVID-19 tally raced past the seven lakh-mark with 22,252 fresh infections on Tuesday, five days after crossing the six lakh post, while the death toll climbed to 20,160 as 467 more people succumbed to the disease, according to the Union health ministry.

With this, the country has recorded over 20,000 cases of the infection for the fifth consecutive day.

India's coronavirus infection caseload stands at 7,19,665, the ministry's data updated at 8 am showed.

With a steady rise, the number of recoveries stands at 4,39,947, while there are 2,59,557 active cases of coronavirus infection in the country.

"Thus, around 61.13 % of patients have recovered so far," an official said.

The total number of confirmed cases also includes foreigners.

Of the 467 deaths reported in the last 24 hours, 204 are from Maharashtra, 61 from Tamil Nadu, 48 from Delhi, 29 from Karnataka, 24 from Uttar Pradesh, 22 from West Bengal, 17 from Gujarat.

Telangana and Haryana reported 11 deaths each; Madhya Pradesh nine; Andhra Pradesh seven; Jammu and Kashmir six; Rajasthan and Punjab five each; Bihar, Kerala and Odisha two each; and Arunachal Pradesh and Jharkhand one each.

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News Network
June 18,2020

New Delhi, Jun 18: Prime Minister Narendra Modi on Thursday launched the auction process for 41 coal blocks for commercial mining, a move that opens India’s coal sector for private players, and termed it a major step in the direction of India achieving self-reliance.

Launching the auction of mines for commercial mining, that is expected to garner ₹33,000 crore of capital investment in the country over next five to seven years, the Prime Minister said India will win the coronavirus war and turn this crisis into an opportunity, and the pandemic will make India self-reliant.

The launch of the auction process not only marks the beginning of unlocking of the country’s coal sector from the lockdown of decades , but aims at making India the largest exporter of coal, the Prime Minister said.

Presently, despite being the world’s fourth largest producer, he said India is the second largest importer of the dry-fuel.

“Allowing private sector in commercial coal mining is unlocking resources of a nation with the world’s fourth-largest reserves,” he pointed out.

Major scams had taken place in coal action earlier, but the system has been made “transparent” now, the Prime Minister said lambasting past policies of keeping the sector closed.

Mr. Modi said that this auction process will result in major revenues to states and create employment besides developing the far-flung areas.

The commencement of auction process of these blocks, part of the series of announcements made under ‘Atmanirbhar Bharat Abhiyan’, is likely to contribute ₹20,000 crore revenues annually to the state governments.

In line with the Prime Minister’s self-reliance call, the aim behind the auction process is to achieve self-sufficiency in meeting energy needs and boosting industrial development.

The government has taken an important decision to open up coal and mining sector to competition, capital and technology, he said.

Coal and Mines Minister Pralhad Joshi, who was also be present during the launch event, said ₹50,000 crore is being invested in the sector to jack up India’s coal output to 1 billion tonne.

With a view to achieve self-reliance in the coal sector, the Ministry of Coal in association with FICCI launched the process of auction of 41 coal mines under the provisions of Coal Mines (Special Provisions) Act and Mines and Minerals (Development and Regulation) Act.

Upon attainment of peak rated capacity of production of 225 million tonnes (MT), the government said, these mines will contribute about 15% of the country’s projected total coal production in 2025-26.

It will also lead to employment generation for more than 2.8 lakh people — direct employment to approximately 70,000 people and indirect employment to approximately 2,10,000 people, as per the government.

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News Network
July 16,2020

New Delhi, Jul 16: The Rajasthan High Court will hear Thursday afternoon a petition filed on behalf of the Sachin Pilot camp, challenging a move to disqualify dissident MLAs from the state assembly.

The plea against the disqualification notices sent from the Speaker’s office to Pilot and 18 other Congress MLAs will be heard by Justice Satish Chandra Sharma.

The 19 MLAs were sent notices Tuesday by the Speaker after the Congress complained that the MLAs had defied a party whip to attend two Congress Legislature Party meetings. 

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