THE UNTOLD STORY
Asian PremiumWhy did Petroleum Minister Murli Deora invite Prime Minister Manmohan Singh’s anger when he raised India’s concern about Asian Premium?
- Billions of dollars Asian Premium paid by India to oil suppliers, particularly Saudi Arabia.
- There is no official record of this payment
- Interestingly, this issue had been raised by every oil minister -- from Mani Shankar Aiyar to Dharmendra Pradhan
- Saudi Arabia denied existence of Asian Premium
LNG Import ScamOn December 1, 2011, Lok Sabha MP Vilas Muttemwar raised an alarm about ₹2.5 lakh crore LNG scam by Petronet LNG Ltd. But, the investigation outcome is still unknown!
- How rich gas from Qatar changed into lean gas?
- Why Petronet LNG Ltd is only private company that is chaired by Petroleum Secretary and promoted by ONGC, GAIL, BPCL and IOC?
- Why Petronet LNG Ltd is kept from the preview of CVC, CAG, CBI and Parliament?
Indo-US Civil Nuclear Deal (2005-08)UPA sacrificed Mani Shankar Aiyar, Muslim vote bank and Iran for the Civil Nuclear Deal. Why? What India gained? Nothing
- India’s nuclear power generation capacity before deal: 4120 mw
- India’s nuclear power generation capacity after deal: 4780 mw
- Interestingly, the 660 mw addition was due to Russia
- While it was USA’s diplomatic victory, it coaxed India to indirectly accept nuclear non-proliferation treaty (NPT)
$2.1 billion Imperial Energy DealWas the ONGC purchase of $2.1 billion Imperial Energy Ltd was uneconomical?
- Did ONGC deliberately ignore Russian Resources Ministry’s warning that reserves of Imperial Energy were inflated?
- Why didn’t ONGC forge an alliance with a Russian company to revive Imperial Energy Ltd?
Petronet LNG Ltd’s Gorgon DealPetronet LNG Ltd, promoted by ONGC, IOC, BPCL and GAIL signed 1.44 million tonnes per annum LNG supply contract with ExxonMobil Gorgon LNG project in Australia for 20 years.
- The supply is expected from next year.
- Why do Indian customers not interested in buying this gas?
- Why was an uneconomic deal signed?
RadiagateWhy did Advocate Harish Salve told the Supreme Court that Radia’s tapped telephonic conversations with politicians, bureaucrats and businessmen were leaked to the media because of corporate rivalry?
- Why didn’t he name the corporate?
PMO DeadlineWhy did a junior PMO official set Jan 31, 2011 deadline for Oil Minister Deora to clear $9.6 billion Cairn-Vedanta deal?
- Why was PMO in a hurry?
- Was the deal an excuse to remove Gandhi family loyal Deora from the crucial Petroleum Ministry?
This book may disappoint you if you have prejudged the rise and fall of Indian oil and gas sector, because of some corporates. According to this book that was only the half truth. In fact, the real reason was hidden in a series of events that had unfolded between 2004 and 2014.
This book is an attempt to provide the other half of the truth, which politicians, corporates and civil societies did not want us to know, because it did not serve their purpose.
An event that gave me confidence to write this book was a Supreme Court Order dated October 17, 2013, pertaining to Ratan N. Tata Versus Union of India and others. According to this order, the Central Bureau of Investigation (CBI) had scanned thousands of call records of lobbyist Niira Radia and acknowledged efforts of only one journalist that was Mr Jayaswal. Incidentally, I was that journalist!
It was quite surprising because I had never spoken to Niira Radia. So, there was no question of finding my voice in those tapes. Yes, I had heard tapes available in public domain and found the mention of my name during conversations between Radia and others. I had sources everywhere, but not with lobbyists or paper-traders.
Rajeev Jayaswal has a doctoral degree from Jawaharlal Nehru University (JNU). He received his M.A. in Sociology from Delhi School of Economics, University of Delhi. He is a journalist with over two decades of experience.He had covered matters related to economy, industry and corporates for The Indian Express Group, Business Standard, The Financial Express and The Economic Times as its Deputy Chief of the Bureau. At The Economic Times, he dedicated over a decade converging economic issues including the oil and gas sector.
He left India’s leading business daily on January 31, 2015 to dedicate his energy in writing a nonfiction. He briefly worked as a communication expert in one of the India’s leading corporate houses, DLF Ltd to acquire the first-hand knowledge about internal functioning of large Indian firms. He resigned from the post of Vice President, DLF Ltd in about six months to devote his full time in writing this book. Later on December 7, 2015, he joined Amar Ujala as its Business Editor where he was allowed to pursue his literary interests.
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Who is responsible for sorry state of India's energy security? The country had two world-class discoveries in the Atal Bihari Vajpayee's regime.
What happened between 2004 and 2014 that killed the sector and made us more 'dependable consumer' for global oil producers? Was India's energy security a victim of import lobbyists? The book revisits series of events that took place in these ten years to find an answer.