A veteran Congress leader from Karnataka, Moily, 72, replaced S Jaipal Reddy under whom the Ministry of Petroleum and Natural Gas was accused of being indecisive and almost halting oil and gas exploration.
"It is politically volatile and sensitive ministry, but if you strongly go in quest of solutions, perhaps obstacles will melt away," Moily said soon after Prime Minister Manmohan Singh carried out the much-awaited reshuffle of his Cabinet.
Moily will formally take charge of the Petroleum Ministry tomorrow morning.
The Petroleum Ministry, which was scene of the nation's biggest corporate battle a few years ago, had almost gone into limbo after Reddy took over in January 2011.
From delaying approval to India's largest foreign direct investment (FDI) to being a reluctant party to fuel reforms, the ministry is accused of being regressive and negative towards the industry during the past 22 months.
"I have always found in my administrative experience of 40 years that we need to have positive mind," Moily said.
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"As on today, (oil) demand is rising. So ultimately, it is energy security that has to be addressed. Delay will cost the nation and common people. We need to take decisions immediately," he added.
Moily moves into the Oil Ministry from Ministry for Corporate Affairs. He also held additional charge of Ministry of Power since July-end when Sushil Kumar Shinde was elevated as Home Minister. Previously, Moliy had also held the portfolio of law. MORE