Oil giants, PSUs form lobbying body

NEW DELHI: Oil giants Shell, Kuwait Petroleum and Unocal have joined hands with RIL, IOC, ONGC, Gail and other PSUs to form the Petroleum Federation of India to lobby with the government on policy issues.
Global energy giant Shell, Kuwait Petroleum Corporation and Unocal have come together with private sector Reliance and public sector Indian Oil, Oil and Natural Gas Corporation, Gas Authority of India, Bharat Petroleum, Hindustan Petroleum, IBP, Engineers India, Kochi Refineries, Chennai Petroleum Corp and Oil India to form PetroFed.
"PetroFed essentially is a non-profit making society. Its main objective would be to coordinate among members and voice industry''s concerns and needs," PetroFed Chairman M A Pathan told PTI here.
PetroFed would represent companies with combined turnover of over Rs 400,000 crore annually and would act as an interface with the government on policy issues like tariff, he said, adding the governing coucil of the association has met twice and it is now in the process of being registered.
PetroFed Director General Satish Kumar Bansal said five sub- groups have been formed on issues such as petroleum policy and legislations; tariffs, duties and taxes; inland logistics management; marine cooperation and training and publications to meet industry needs.