{"id":54009,"date":"2026-05-25T10:26:20","date_gmt":"2026-05-25T04:56:20","guid":{"rendered":"https:\/\/allgujaratnews.in\/?p=54009"},"modified":"2026-05-25T08:34:40","modified_gmt":"2026-05-25T03:04:40","slug":"gujarat-crude-oil-worth-%e2%82%b910-lakh-crore-missing-from-oil-wells","status":"publish","type":"post","link":"https:\/\/allgujaratnews.in\/en\/gujarat-crude-oil-worth-%e2%82%b910-lakh-crore-missing-from-oil-wells\/","title":{"rendered":"Gujarat : Crude oil Worth \u20b910 Lakh Crore Missing from Oil Wells"},"content":{"rendered":"<p>Advice to Conserve Petrol, Yet Heavy Spending by Modi<\/p>\n<p>Dilip Patel<br \/>\nAhmedabad, May 14, 2026<br \/>\nPreviously, Modi had launched a scathing attack on the UPA government for taking various anti-people and anti-union measures. However, he has now resorted to the very same practices.<\/p>\n<p>Petrol Prices<\/p>\n<p>On May 23, 2012, Gujarat Chief Minister Narendra Modi had severely criticized the Manmohan Singh government and demanded a rollback of the hike in petrol prices.<\/p>\n<p>At that time, the price of petrol had been increased by \u20b97.50 per liter. Sharing his views on Twitter, Modi tweeted, &#8220;The massive hike in petrol prices is the starkest example of the failure of the Congress-led UPA government. This will result in a loss of hundreds of crores of rupees for Gujarat. The decision to hike petrol prices just one day after the conclusion of the parliamentary session constitutes a grave affront to the dignity of Parliament. The people will not forgive the government for this.&#8221;<\/p>\n<p>Gas and Petroleum: A National Asset<\/p>\n<p>In April 2003, GSPC discovered petroleum reserves estimated at 20 TCF (Trillion Cubic Feet) in the KG Basin block located in the south.<\/p>\n<p>India&#8217;s largest gas well was discovered at this site.<\/p>\n<p>He spoke of utilizing Gujarat&#8217;s petroleum energy resources to make India self-reliant.<\/p>\n<p>The estimated value of the petroleum gas reserves in the KG Basin stands at \u20b94 lakh crore, based on current market prices.<\/p>\n<p>Had the oil actually been extracted, the value of that oil and gas would be \u20b910 lakh crore today.<\/p>\n<p>Oil extraction was supposed to have commenced in 2008. To this day, however, none has been obtained.<\/p>\n<p>\u20b921,000 crore belonging to Gujarat has been utilized for this project.<\/p>\n<p>Modi pointed out that the VAT rates on petrol in Andhra Pradesh, Assam, Kerala, Maharashtra, and Rajasthan\u2014all Congress-ruled states\u2014as well as in West Bengal and Uttar Pradesh (ruled by UPA allies), are higher than the rates prevailing in Gujarat. In Andhra Pradesh, Assam, Kerala, and Rajasthan, a 4% VAT is levied on LPG and kerosene, whereas in Gujarat, the rate is &#8216;NIL&#8217; (zero).<\/p>\n<p>Ban on Cotton Exports<br \/>\nThe Sardar Sarovar Project<br \/>\nThe Centre&#8217;s Meat Export Policy<br \/>\nThe anti-farmer &#8216;Pink Revolution&#8217;<br \/>\nHe also strongly condemned the move to impose TDS (Tax Deducted at Source) on the transfer of immovable property.<\/p>\n<p>He had opposed the Centre&#8217;s proposed amendments to anti-terrorism laws. (Google translation from Gujarati; please refer to the original report for verification.)<\/p>","protected":false},"excerpt":{"rendered":"<p>Advice to Conserve Petrol, Yet Heavy Spending by Modi Dilip Patel Ahmedabad, May 14, 2026 Previously, Modi had launched a scathing attack on the UPA government for taking various anti-people and anti-union measures. However, he has now resorted to the very same practices. Petrol Prices On May 23, 2012, Gujarat Chief Minister Narendra Modi had [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":43497,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[3,1,54,4771],"tags":[463,11776,1217,14864,14862,11170,14863],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/allgujaratnews.in\/wp-content\/uploads\/2020\/09\/Crude-Oil.jpg?fit=1170%2C780&ssl=1","jetpack_publicize_connections":[],"jetpack_shortlink":"https:\/\/wp.me\/paUKPQ-e37","_links":{"self":[{"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/posts\/54009"}],"collection":[{"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/comments?post=54009"}],"version-history":[{"count":2,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/posts\/54009\/revisions"}],"predecessor-version":[{"id":54011,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/posts\/54009\/revisions\/54011"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/media\/43497"}],"wp:attachment":[{"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/media?parent=54009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/categories?post=54009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/tags?post=54009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}