The Petroleum and Natural Gas Ministry is seeking Rs.30,000 crore worth bonds to make up for the losses the oil marketing companies incurred on selling LPG and kerosene this fiscal. “Petroleum and Natural Gas Minister Murli Deora will be meeting Union Finance Minister Pranab Mukherjee on the issue shortly,” Petroleum Secretary R.S. Pandey told reporters here. Mr. Deora had last month raised with Prime Minister Manmohan Singh the oil bond issue.
The issue is likely to come up for discussion during the review meeting by Dr. Singh that is taking place on Wednesday.