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| "Motivation is an external, temporary high that pushes you forward. Inspiration is a sustainable internal glow which pulls you forward." |
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| Thomas Leonard |
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| ARCHIVES |
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Discussion Forum |
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| Most Viewed in the Month |
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| Editor’s Mailbox |
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| Xpress Poll |
| Whether the suggestion of finance ministry to impose higher duty
on purchase of a diesel vehicle can help in reducing vehicular pollution?
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| Last week's Poll results |
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Speech by
Hon’ble Minister of State for Petroleum & Natural Gas, Mr. Jitin Prasada.
(Vigyan Bhawan, New Delhi, 30th June 2009)
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Addressed the dignitaries present:
- It is a privilege to be at this milestone event to convey my heartiest greetings to all members of Indian Oil, as we celebrate its Golden Jubilee. It is indeed a moment of immense pride, joy and satisfaction for Indian Oil family who have put in their best in the past five decades in the service of nation.
- Today, as Indian Oil celebrates fifty years of growth and consolidation into India’s flagship national Oil Company, it is also a celebration of India’s spectacular success in achieving self-sufficiency in the downstream petroleum sector. Indian Oil was born of the firm conviction of the architects of independent India that a public sector oil company would be in a position to fuel its dreams and aspirations. The vision of Shri Jawahar Lal Nehru Ji has withstood the test of time. The Policy of a mixed economy, where our PSUs have been given free hand to compete with the Private Sector Companies has been vindicated in the recent economic turbulent time. Whereas a lot of private sector companies have floundered, our PSUs have withstood this economic shock and have infact become the favourite of financial experts. This is only due to their sound management and the policies of Government to unlock their potential.
- Indian Oil has since spread its presence in every nook and corner of the country; energising the lives of millions every day through over 34,000 retail sales points. Its 10 refineries, 10,000 kilometer long pipeline network and over 350 marketing installations have steadfastly and tirelessly kept the wheels of the nation turning.
- When it comes to delivering the welfare agenda of our Government, our Public Sector Units play very critical role. Last year when inflation had touched 13%, mainly driven by commodity prices, the Government could actually bank upon its PSUs for reining in the inflation by keeping the prices under control. So it is actually in the interests of the Government that the Public Sector Units keep on growing and remain in a robust financial health. There should be no apprehension whatsoever that the Government could compromise with their competitiveness in any manner. The Government has tried to compensate for under recoveries of Oil PSUs by issuing oil bonds from time to time. However, this not only tend to put financial burden on the future financial planning but such distortions also deprive a professional company from the much needed liquidity. Time has come when we have to look for new solutions. It is famously said regarding the oil, that new oil can be discovered only either at new places or with new ideas. This applies more to our Oil Marketing Companies (OMCs). I expect IOC to play a leading role to improve refinery margins and by using latest technologies make sure that the heavily subsidized Kerosene oil reaches the targeted beneficiaries. This I perceive is a win-win situation for both the Oil Marketing Companies and the common man, particularly in the rural areas of the country.
- Hon’ble Minister for Petroleum & Natural Gas, has recently set the agenda for our companies in the ‘Vision 2015’. The main thrust remains on acquiring and developing new Oil & Gas resources, alongwith fulfilling the basic premises of our Government to deliver these services to the consumer in a prompt and hassle free way. We propose to operationalise a ‘24x7’ response centre, SMS recording of booking and complaint etc. at the earliest.
- It is a matter of pride that Indian Oil’s cutting-edge R&D in alternative, green fuels continues to be of immense benefit to the nation. The commercialisation of ethanol-blended petrol, initiatives in the bio-diesel business, and the ongoing efforts to usher in Hydrogen-CNG as an auto-fuel, point to the future paths the nation shall pursue for its long-term energy security. I wish these ventures all success, and hope that they would lead to Indian Oil’s emergence as a true energy conglomerate.
- In the fifty years of its existence, Indian Oil has grown into a role model for other corporates, displaying high professionalism while at the same time meeting its social objectives effectively. Today, when we talk of our achievements, it is our bounden duty to ensure that we also give back to the society. Through the Corporate Social Responsibility (CSR) plan we can directly make impact on the lives of our fellow citizens who still have not been fully benefited from the infrastructure and welfare schemes. I am sure that alongwith the commercial success, Indian Oil would be a leader in providing the quality CSR services as well. This not only helps in providing crucial aid to our brethren, but enhances the brand value of the company in the eyes of the public.
- It is the vision and dynamism of the top leadership and the passion, zeal and hard work of the employees down the line that has made it possible for Indian Oil to emerge as a shining star of the Indian Public Sector. I, therefore, once again congratulate the management and employees for the role they have played in scripting the success story called Indian Oil. I am sure that your achievements will not make you complacent, but will actually fuel an inherent desire to be the best in the world and to be the face of Indian enterprise. In the current scenario of high volatility and turbulence in the hydrocarbon business, Indian Oil’s skilled, dedicated and competent human resource remaining its most precious asset.
- On this auspicious occasion of the Golden Jubilee celebrations, I once again convey my best wishes for success and all-round progress in the years to come. I hope and believe that you will continue to serve the country in the true Indian Oil spirit and make us all proud.
Thank you.
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