• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi , Feb. 10

THE advisory committee on synergy in energy will submit its report by May, the Petroleum Minister, Mr Mani Shankar Aiyar, said on Thursday.

"It was felt that there is a need for oil public sector undertakings to leverage their strengths in their respective areas of core competence to optimally fulfil the key role envisaged for them in promoting the national objective of energy security, accelerated growth rate and sustained economic development," he said while addressing members of the Parliamentary Consultative Committee attached to his Ministry.

The advisory committee will examine the core competence of PSUs in the petrol and natural gas sector of India to assess their competitiveness in the evolving domestic and international scenario.

It will also analyse the various options of leveraging their strengths to optimally fulfil their required contribution to the national objectives of energy security, accelerated growth, sustained development and social objectives of Government policy.

The committee would also identify the most appropriate structure of the oil PSUs to secure these ends, he said. "The committee had its first meeting on January 24 and is expected to submit its report by May 2005," he added.

5-point programme: The Government has adopted a five-point programme to enhance oil security in the country, including setting up of strategic petroleum reserves.

Outlining the steps taken for energy security, the Government has taken a different approach to strengthen long-term energy security through oil diplomacy, which Mr Aiyar claimed had already yielded some results.

New areas would be explored, especially deep water and difficult frontier areas as also exploration in the deeper layers of the producing fields.

The Government has also asked its companies to acquire more acreage abroad and to import natural gas in any form to meet the growing demand.

It has also decided to enhance supply security by increasing production of oil and gas at home as well as abroad.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
12 districts in Kerala record `excess' rain

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line