A price of $4.20 per million British thermal units is not viable for smaller gas discoveries, say industry experts.
The subsidy burden of upstream oil companies, Oil and Natural Gas Corporation and Oil India Ltd, have risen 42 per cent in a single quarter.
Rural retail was supposed to cash in on the prosperity of Bharat, but the storyline hasn't really gone the way big corporate houses had hoped.
Rural retail was supposed to cash in on the prosperity of Bharat, but the storyline hasn't really gone the way big corporate houses had hoped.
The department of information technology, Government of India will submit its proposal by next month to The Internet Corporation for Assigned Names & Numbers, a non-profit organisation responsible for managing the internet's domain name system, including IP address space assignments based in California, USA.
The petroleum ministry has put on back burner the proposal to create a national gas highway development authority, following an opposition from the Petroleum and Natural Gas Regulatory Board, which currently has the powers to authorise pipelines.
Siphoning off food and fuel meant for the poor has made India's public distribution system ineffective.
However, storage capacity way behind even present public distribution system procurement need.
From April 1, 2010, 13 cities will switch to Euro IV. Earlier, industry experts said that the Euro IV emission norms, to be effective from April 2010, would force an upward revision of prices as carmakers were making significant investments to upgrade vehicle engines to make them Euro IV compliant.
Delhi may become the first state to move to direct cash pay-outs of subsidies on kerosene sold through the public distribution system (PDS). The petroleum ministry said it has "welcomed" a proposal to this effect from the Planning Commission, which acted on a plan suggested by Delhi Chief Minister Sheila Dikshit.
"For 2010-11 and beyond, the Kirit Parikh report will be the benchmark. The report is being studied.These decisions are politically sensitive issues and have to be sustained over a period of time," Petroleum Secretary S Sundareshan told Business Standard. "It is impossible to insulate the Indian consumer against the movement in international oil prices."
'Prices can be adjusted now. The government can even temporarily cut taxes'.
The first cargo of 25,000 tonnes of Euro-IV grade diesel from RIL's refinery at Jamnagar was shipped by Hindustan Petroleum Corporation Ltd on Friday, said an informed source. This is also the first coastal supply of Euro-IV diesel for the Indian market.
Retail prices of sugar dipped 6 per cent after the government announced a slew of measures on January 13. Prices of grain and pulses have remained unchanged.
The testing track for high speed vehicles (having speeds between 250 kmph and 350 kmph) at the Indore centre would be operational by 2012.
New government policy on biofuels may consider financial incentives. Indian Oil Corporation, the country's biggest oil marketing company, is looking to acquire 50,000 hectares of wasteland in Uttar Pradesh for plantation of non-edible oilseeds, such as jatropha and karanjia, that are used for biodiesel production.
Under political pressure, the Centre had to drop a proposal which made the state government pay for the difference between the fair and remunerative price fixed by the Union government, and the state advisory rate.
Industry experts say that even though international companies face problems in setting up new projects on their own, given the problems associated with acquiring land and rehabilitating the displaced people, their keenness to become a part of the growing Indian market remains intact.
The sugar industry is all set to challenge the recent amendment to the Essential Commodities Act, which seeks to introduce a fair and remunerative price (FRP) for sugarcane, besides absolving the government of a Rs 14,000-crore levy price obligation arising out of several court rulings.
At present India is exporting soya extracts, green chillies and potatoes.
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