Crude surge fuels bailout move
R. SURYAMURTHY
Deora: Action time
New Delhi, Nov.1: As global crude prices simmered near the $100-per-barrel-mark, petroleum minister Murli Deora today held separate meetings with Prime Minister Manmohan Singh and finance minister P. Chidambaram over a fresh bailout package for oil marketing PSUs.
In the meetings, Deora sought equitable sharing of the crude burden among the government, the oil marketing companies and consumers.
In tandem with the global price, the Indian basket of crude has shot up to $84.31 per barrel. The Indian crude is a mix of Dubai and Brent crude in the ratio of 61:39.
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