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The Ministry of Petroleum and Natural Gas has sought a subsidy of Rs 43,000 crore for the second half of the current fiscal from the Government. This was stated by the Secretary, Ministry of Petroleum and Natural Gas, Mr G.C. Chaturvedi, on the sidelines of a FICCI seminar on Wednesday.
The subsidy is used to partially compensate public sector oil marketing companies for selling petroleum products at controlled rates. Mr Chaturvedi said: "The subsidy demand for the first and second quarter was around Rs 43,000 crore and we expect it to be around the same for the third and fourth quarter as well."
The Secretary also talked about the falling output in Reliance's KG-D6 basin and stated that it had fallen to 38-39 msmnd.
On CAG's criticism of the Ministry's decisions on RIL's KG-D6 gas block, the Oil Ministry stated that none of its actions was taken with malafide intentions, but it may have erred in certain cases where it was open to a course correction.
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