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General Forum: Current 'Affairs' | | Congress-led UPA government hiked petrol prices again after seven months. Is hike a compulsion? | |
| Arctic reserves could be the next target. SHELL and other companies are looking for the technology to explore oil in that region. So far the technology that cope up in exploration oil, On shore /Off shore.
Posted by: Mr. M Kumar N At: 15, Jul 2005 2:08:44 PM IST
Can any one promise that there will not be any furter hike ????
Posted by: Mr. M Kumar N At: 9, Jul 2005 8:53:04 PM IST
So people in kakinada and surroundings can benefit, becoz yanam is near, may be petrol and diesel will be down there also, as it is UT, hope somebody gives rates there, to compare. Thanks in advance.
Posted by: DoBoy At: 4, Jul 2005 5:36:39 PM IST
When there was a prohibition in AP people get their liquor from Yanam queit cheaper rates than AP excise!
Posted by: Mr. M Kumar N At: 4, Jul 2005 5:01:17 PM IST
There was a news in ETV- telugu yesterday, saying that most of the bus, lorry driver's,who are in west bengal near alipurdaur, go to bhutan border to get petrol and diesel , which is cheaper by at least Rs.13 and Rs.8 respectively. While a small country like bhutan can give at rate, which already includes its profit, why cannot india do it? Why the successive governments fail to control and bring down the costs is really not known?
Posted by: DoBoy At: 30, Jun 2005 11:22:52 AM IST
How about our neighbouring countries who produce a part and imports major part.
Crude $60/ barrel= June 2005
Year 1999
Mexico crude $ 23 / barrel
where as others $18/barrel
Any one has comments with regards to international scenario?
Posted by: Mr. M Kumar N At: 29, Jun 2005 7:27:46 PM IST
I read it in Financial Express sometime last October boss. I'll try to get the link if I can.
Posted by: Malakpet Rowdy At: 29, Jun 2005 3:21:37 PM IST
GSPC strikes $50 billion gas
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BS Regional Bureau in Ahmedabad | June 27, 2005 10:45 IST
Gujarat is the only state to venture into exploration and production of oil & gas.
State-owned Gujarat State Petroleum Corporation has discovered the country's largest reserves of natural gas in the Krishna Godavari basin.
Initial testing results indicate estimated reserves of over 20 trillion cubic feet of natural gas, valued at Rs 2 lakh crore ($50 billion).
"This is a historical moment for the entire hydrocarbon sector in India. This discovery will strengthen the oil and gas sector in India as it will almost double the current gas production of the nation," Gujarat Chief Minister Narendra Modi said in Ahmedabad.
GSPC, a wholly-owned state government body, started drilling in the Krishna-Godavari basin with the KG1 well on July 31, 2004.
The present discovery comes after just 300 days and a Rs 250-crore investment. GSPC had discovered gas in the Block while drilling in the KG8 well, located 6 km off the Yanam-Kakinada coast of Andhra.
ONGC produces 70 million cubic metres gas/day
Reliance announced a discovery of 12 trillion cubic feet of gas in KG basin
Gujarat is the only state to venture into exploration and production of oil and gas
Posted by: Malakpet Rowdy At: 29, Jun 2005 1:15:28 AM IST
Fuel price hike can not be stopped ( even if the pinkos are in power) .. with the oil reserves across the world hitting the rock bottom and Americans occupying Iraq .. and BUSH OWNING OIL BUSINESS .. its just not practical to keep the price in check ..
But reduced gap between the Diesel and Petrol prices would have done a world of good to the consumers. It is wrong on part of the govt to assume that the poor use diesel and the rich use diesel
Fankly I dont understand the phrase "The rich has become richer and the poor has become poorer!" .. I agree with the first part and I agree that the gap betwen the rich and the poor is widening .. but I dont agree that the poor has become poorer (Unless the statement is relative to the growth pace of the rich) for the perentage of people lying below the poverty line has been coming down since 1992.
Posted by: Malakpet Rowdy At: 28, Jun 2005 7:03:43 PM IST
It is time that, we looked for other alternatives like bio gas etc,
Posted by: DoBoy At: 27, Jun 2005 10:58:10 AM IST
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