The maiden issue
of "Petro India", the first publication of Petroleum Federation
of India (PetroFed) was released today by Shri Ram Naik, Minister
of Petroleum & Natural Gas, in the presence of officials of
the Petroleum Ministry and CEOs of Member organisations. Speaking
on the occasion, Petroleum Minister called upon the Federation
to work for the benefit of the economy, industry and the consumers.
Shri Ram Naik also called upon the newly set up body that better
consumer services should be its motto along with the healthy growth
of oil sector. He cautioned that the body shall not result into
a cartel formation.
Shri Santosh Gangwar,
Minister of State for Petroleum & Natural Gas, while welcoming
the formation of such a body, said that it should provide a balance
between the various players in oil sector on one hand and the
Government on the other. This will help in achieving the objectives
set out in Vision 2025 and facilitate better coordination. Petroleum
Secretary Shri B.K. Chaturvedi emphasised that PetroFed should
not only put forward its views before Government and other fora
but should also supplement in carrying out studies, analyse how
sector is growing, etc.
PetroFed is a voluntary
body of petroleum industry to primarily promote interest of member
organisations, other nodal players of the Oil Industry and also
to address some of the post-APM issues of the public, private
and joint oil sector companies. So far, 17 organisations from
public, private and joint sectors have enrolled as members of
PetroFed, including a few multinational companies. A number of
other organisations within India and abroad have expressed keen
interest in joining and strengthening this post-APM initiative.
The journal, Petro India, will reflect their views apart from
providing authentic data and information useful not only to domestic
players but also to the overseas investors in the hydrocarbon
sector.
Shri M.A. Pathan,
Chairman of PetroFed introduced his team and also presented a
brief of its activities and the progress made by the organisation
within a short span of six months. PetroFed, he said, is already
addressing some of the major issues pertaining to policy, legislation,
duties, taxes, tariffs, Budget 2003, Auto Fuel Policy and the
impact of Dr. Kelkar Committee report on Direct and Indirect taxes
on oil industry. Shri S.K. Bansal, DG PetroFed briefed about the
proposals submitted to government on duty rationalisation in the
forthcoming Budget.
The inaugural issue
of Petro India, among other things carries four authentic papers
in the form of ‘Corporate profiles’ of ONGC, IOC, GAIL and Reliance
Industries, one flagship company each selected from upstream,
downstream, midstream and private sectors. Apart from such corporate
profiles, future issues of Petro India are designed to serve as
a window of oil industry by providing data, research papers, events
and innovations in domestic and global hydrocarbon sector impacting
product development, processes, systems and quality of life of
the people.
