'Ambani Brothers' Burying Hatchet A Good Sign'

Petroleum Minister Murli Deora today asserted that the dispute between Ambani brothers did not really matter, but welcomed their move to bury their differences, saying it is a "good sign".

"I must tell you that there are other serious problems in the country and the fight of these two brothers does not really matter. I would take it in this way that it is a good sign and we welcome it (burying differences)," Deora said.

The Ambani brothers, Mukesh and Anil, yesterday dumped the contentious non-compete agreements signed in 2006 as part of the division of Reliance empire, saying this would eliminate any room for "disputes".

Speaking to reporters after presiding over the Parliamentary Consultative Committee Meeting, Deora said the government had no role in the Ambani brothers' dispute.

"The government has no role in that. In this case, history has said and the government has said that the gas belongs to the people of India. We are grateful to the Supreme Court and it has clearly said that the gas belongs to the people of India," Deora said.

On his visit to the Desalination Plant at Nemmeli near here, which is being set up by Chennai Petroleum Corporation Limited, Deora hoped a similar project would be adopted in his hometown Mumbai which is facing severe water shortage.

"In Mumbai they are facing terrible water shortage.I hope the Chennai Petroleum Corporation and Bombay Municipal Corporation reach some agreement on adopting this technology in Mumbai.I hope this will materialise in future", Deora said.

Oil Secretary S Sundareshan said his Ministry has also given its 'nod' for providing six lakh additional LPG connections in Tamil Nadu.

"Tamil Nadu has already crossed the national average of 51 per cent and currently ranks at 73 per cent (in terms of LPG connections)." Following a request made by Tamil Nadu Government, the Minister (Murli Deora) has sanctioned six lakh additional LPG connections to the state, he said.

On his recent trip to Venezuela along with officers of Oil companies to explore possibilitiesin the Hydrocarbon sector, Deora said the Indian Oil Corporation Ltd, ONGC Videsh Ltd and Oil India in consortium with Spanish company Repsol and Malaysian company Petronas have signed an agreement with Venezuela's state owned firm PDVSA for producing Hydrocarbon from Carabobo field in Venezula.

"Government is actively pursuing the policy of acquisitions of more oil acreages abroad to achieve energy security for the country", he said.

ONGC Chairman R S Sharma said the best part of securing the deal in Venezuela was that the ONGC could bring quantities of crude oil from 300,000 to 400,000 barrels per day.