With the appointment of M Veerappa Moily as the new Petroleum Minister, the politically volatile and sensitive ministry is expected to accelerate decision-making and trigger revival of oil sector.

After P. M. Manmohan Singh conducted the much-awaited reshuffle of his cabinet, 72-year-old Moily expressed the confidence of dissolving impediments with quick calls.

After appointment, the veteran Congress leader said, "It is politically volatile and sensitive ministry, but if you strongly go in quest of solutions, perhaps obstacles will melt away."

Under Jaipal Reddy, the Petroleum Ministry allegedly suffered insurmountable red tape, which almost halted oil and gas exploration.

Reddy dealt with Reliance Industries Ltd (RIL) harshly, while bureaucrats avoided taking decisions and chaos prevailed in cooking gas supply. In short, the Petroleum Ministry had nearly slipped into limbo after Reddy took reins of the ministry in January last year.

Moily, who moved into the Petroleum Ministry from Ministry of Corporate Affairs, said that there was a need to take decisions immediately as any delay would cost the nation as well as common people.

The new Petroleum Minister added that that he would employ a multi-pronged strategy to address the issue of energy security and to deal with rising prices.