Pvt firms to sell petrol, diesel by April

The monopoly of the public sector firms in selling petrol and diesel would come to an end by April 2004 as private firms would also start selling transport fuels. According to a review done by the petroleum and natural gas ministry around 500 private retail outlets are expected to be in place by April this year.

This was stated by the Minister of Petroleum and Natural Gas Ram Naik on Tuesday. Speaking at the fifth oil and gas conference, Naik said: “A review of the progress made by these companies revealed around 500 outlets would be established by April 2004.” Naik also stated that the government would sell its remaining 26 per cent stake in IBP through a public offer this fiscal besides offloading 10 per cent equity in ONGC and Gail. The stake sale in these companies would fetch the government around Rs 15,000 crore, he added. The entire process is expected to take place in the next two months, Naik said.

Meanwhile, India’s first LNG import terminal at Dahej in Gujarat is complete and would receive the first shipment from Qatar on January 31, Naik said. He also said Gail is laying a 610-km pipeline from Hazira to Vijaipur, parallel to existing trunk Hazira-Vijaipur-Jagdishpur gas pipeline so as to supply this gas to the consumers in Gujarat, Madhya Pradesh, Rajasthan, Uttar Pradesh and Delhi. The Rs 2,900 crore pipeline is scheduled for completion by April 2004. Another pipeline of 387-km length is being laid by Gail from Dahej to Uran in Maharashtra at a cost of Rs 1,400 crore. This pipeline is scheduled for completion by December 2004, he added.