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Monday, May 20th 09:52 PM IST
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Jaipal Reddy GALLERY.
The burden of the Jaipal Reddy legacy in the oil ministry is likely to start weighing on Veerappa Moily earlier than expected. In an indication to this effect, the oil ministry has withdrawn a crucial note sent by Reddy that had highlighted the impact the higher gas prices will have on subsidy. The ministry's note had in September said an increase in price by $1/mmBtu for 1 mmscmd of gas will increase the government's subsidy burden by about Rs 64 crore annuallyem./em [caption id=attachment_529897 align=alignleft width=380 The burden of the Jaipal Reddy lega
strongNew Delhi/strong: Jaipal Reddy was removed as petroleum minister for refusing a proposal of Mukesh Ambani-led Reliance Industries to hike the charges of the gas it was supplying to state-owned power plants, India Against Corruption member Arvind Kejriwal charged Wednesday, demanding that the Krishna Godavari basin allotted to the company be cancelled. Mukesh Ambani is running the country it seems... Jaipal Reddy was removed as he refused to hike the charges being levied by Reliance Industries to supply gas to NTPC, Kejriwal said at a press conference. He said the government looked helpless before the corporate group. According to Kejriwal, the KG basin was awarded to Reliance in 2000 by the NDA government when the corporate agreed to supply gas to the National Thermal Power Corp for the next 17 years at $2.5 per unit. [caption id=attachment_509927 align=alignleft width=380 strongNew Delhi/strong: Jaipal Redd
India's petroleum minister S Jaipal Reddy on Tuesday called for a concerted global effort against increasing speculation and paper barrels-oil that has been produced but doesn't have a shipping date-which contribute to sustained high international oil prices. Speaking at the ministers' roundtable on fossil fuels at the World Energy Forum in Dubai, Reddy said speculation and paper barrels neither helps the producers nor the consumers of oil and gas. An appeal needs to go out from this Forum to address these problems. [caption id=attachment_502581 align=alignleft width=380 India's petroleum minister S Jaipal
strongNew Delhi:/strong Petroleum Minister S Jaipal Reddy wrote to Prime Minister Manmohan Singh seeking formation of a committee of secretaries to scrutinise the coal-bed methane, or CBM pricing proposals of Reliance Industries and Essar Oil. The petroleum ministry has been trying since July to get an Empowered Committee of Secretaries (ECS) to vet the separate price proposals of RIL and Essar but the panel has so far not decided to take up the issue.[caption id=attachment_469436 align=alignleft width=380 strongNew Delhi:/strong Petroleum M
Petroleum Minister Jaipal Reddy. Image courtesy PIB Petroleum Minister Jaipal Reddy. Im
An Indian policeman (R) attempts to put out flames of burning effigies representing Indian Prime Minister Manmohan Singh and Petroleum Minister S. Jaipal Reddy during a protest by the All Assam Students Union against the petrol price hike in Guwahati on May 24, 2012. India's state-run oil firms announced the sharpest hike in petrol prices in nearly a decade to offset growing losses caused by subsidised rates, rises in the international oil price and a plunging rupee. The increase was put at 6.28 rupees (11 US cents) per litre which, when taxes are included, will mean a 7.5-rupee hike for consumers in India from May 24. An Indian policeman (R) attempts to