Ravinder your shameless promotion of congress and attacking other parties meanignlessly is amazing.you refuse to reform.What is purpose of this write up?Okay BJP gave contract to reliance on some projections and assurandces.So why UPA is continuing them after failure? Why they did not revise.Government has immense and limitless powers.Congis are seven time more corrupt than other parties.Every one is watching them.Only loot and price rise is their policy.Living lavish lifestyle of Maharajas and spending sweat money of poor.If you have to work as congress canvasser then better quit these forums.No one needs your wisdom.
RIL Promised 40X Gas than ONGC, Charged 7X for Lesser Production
Dear Yashwant Sinha ji,
It is understandable in pre 1975 BJP didn't have resources, credibility & skills to win and run GOI but over the years BJP ran Central & State governments still BJP didn't improve all these years on these score in spite of abundant resources, representations in various Committees of Parliament yet some jokers Naqvi or Javdekar or Shahnawaj or Sushma are face of second largest political party.
Important - RIL promised to you it had discovered 40 times more gas than ONGC and it shall double Natural Gas production, would supply gas for a Century and shall be operational in 30 months from October31, 2002 but commenced production after 77 months from 2002 or 113 months after NEPL-I. Since RIL was allocated KG D6 in 1999 and till October31, 2002 it had developed just Three Wells but your government allocated 25 Blocs to RIL in NEPL I. II and III – this also implies –
1. Commercial production at 80MCM/d or even 120 MCM/d was possible in mid 2002 that would have greatly reduced our Energy Imports.
2. It would have cost less than $1.2b but it eventually charged $10b for just 40 MCM/d production.
3. RIL drilled just 3 wells in 25 Blocs allocated to it in over three years.
Yashwant Sinha as Finance Minister allowed it to expand promoters equity to over 50% from around 12% in 1995 when Narasimha Rao government lost election.
Yashwant Sinha as FM let World's top Scoundrel Ambanis in to Power, Retail, Petro Chemicals, Telecom, Infrastructure, Refineries, Oil & Gas sectors when it not experience or sills.
You didn't know that Pakistan is top country in CNG vehicles 61% and Bangladesh 16% have much higher CNG vehicles proportion than India 1.3%.
In addition in India subsidized Kerosene and LPG cooking fuels are diverted for adulteration in Diesel and to run cars.
On last page of Petroleum Stat ONGC produced 1911 MCM gas compared to 1750 MCM for Private Offshore (RIL) in September2011.
So you can't run away for Mistakes or Corruption that hurtIndia.
But instead of TAMING scoundrels like Ambanis, BJP is not performing its Political Duty to Nationalize RIL given that Congress with 205 seats in parliament can't do in present circumstances.
In fact all political parties in India should join together in Nationalizing Ambani Companies.
Reliance gas-find 40 times bigger than Bombay High
Hemangi Balse in Mumbai
October 31, 2002
Reliance Industries' gas discovery in the Krishna-Godavari basin is expected to
change the energy supply economics in the country with the reserves estimated to be around 40 times bigger than that of the Bombay High field, and double the total gas production of Oil and Natural Gas Corporation.
The Ambanis made the announcement on the gas discovery at the company's
annual general meeting on Thursday.
Reliance's gas reserves in its exploratory block KGDN-6, off Vishakapatnam, are to the tune of 40-50 million cubic metres per day and are expected to go up to 100 cubic metres of gas over a 10-year period.
Reliance's gas reserves are expected to feed the gas-starved country for almost a century. The firm will have to invest more than Rs 7,000 crore (Rs 70 billion) in
extracting gas from the Krishna-Godavari basin.
Reliance is understood to already have received enquiries from several international oil majors for a partnership but is, however, planning to go it alone.
An industry source said: "If Reliance's projections come true, it will change the entire energy supply chain of the country. This will further mean that projects to import liquefied natural gas in the country will be hit."
Such a scenario puts a question mark on the slew of LNG terminals planned in India.
Although most are on the drawing board, several global firms, including Shell, British Gas, and the local Petronet LNG, have bought land and carried out detailed feasibility studies to import LNG.
Reliance is delineating the gas reservoir, has drilled almost three wells, and needs 122 clearances at various levels of the government.
Though Reliance has a 10-year plan for the gas reservoir, the entire execution and commercial production is being chalked out in such a manner that it can commence production in two and a half years.
Reliance is the first private Indian company to have struck gas in a deep water
exploratory block in the country. It drilled a record 6,000 feet below the sea floor in the Krishna-Godavari basin.