After a three-month slowdown, India's oil imports (already landed) from Russia bounced back in the first 15 days of October to 1.8 million barrels per day.
Reliance Industries Ltd has decided not to use its allocation of gas from the Krishna-Godavari basin's D6 field for petrochemical production; it will, instead, swap it with gas available from other sources. It will use D6 gas only for power generation.
The government has slashed allocation of natural gas used for LPG production, and diverted the low-priced fuel to city gas retailers like Indraprastha Gas Ltd and Adani-Total Gas Ltd to meet a part of their requirement for CNG/piped cooking gas supplies, according an official order. The government had in October and November last year cut supplies of low-priced natural gas coming from old fields such as Mumbai High and Bassein fields in the Bay of Bengal, to city gas retailers by as much as 40 per cent in view of limited output.
Concerns on lower natural gas transmission, LPG rate cut & APM gas price hike might be priced in but no positive triggers
The seeding of LPG database with Aadhar numbers is above 55 per cent and overall Aadhar penetration is 90 per cent in these districts.
'Geopolitically and diplomatically it's a very difficult situation for India.'
The version is GM India's first clean-burning liquefied natural gas car in India, built at company's plant at Talegaon in Maharashtra.
The Kelkar Committee, which was appointed by Finance Ministry to suggest a roadmap for fiscal consolidation, has suggested immediate hike in fuel prices and complete deregulation of diesel prices by start of 2014-15 fiscal.
India, the biggest contributor to world demand for oil, will bring into effect in an overhaul of its drilling policy. This comes after more than a year of preparation and will boost the exploration and development of India's oil and gas sector along with increased participation by foreign drillers
Stocks of the country's bigger tile and ceramic makers were major gainers over the past week. The leaders in this space -- Kajaria Ceramics and Cera Sanitaryware -- were up 7 per cent each. In the past three months, Kajaria Ceramics and Somany Ceramics were up 29-32 per cent, while Cera Sanitaryware gained 22 per cent.
Underrecovery from sensitive petroleum products seen at Rs 1,55,000 cr in current fiscal.
The 12-digit unique number that the UIDAI will generate will be combined with the the smart card project of the Oil Ministry for distribution of PDS kerosene and domestic LPG through biometric identification of beneficiaries.
A team of scientists at the Indian Institute of Petroleum in Dehra Dun has developed a new technology to convert environmentally-hazardous plastic into petroleum products.
Petroleum ministry expects that this would encourage the rich and affluent also to voluntarily give up the subsidised LPG.
However, unlike cellular services where consumers have the option to switch between different mobile companies, LPG consumers would have the limited option of changing only their dealers, not the oil company.
The state-owned refiner has offered 15,000 tonnes in a tender.
The three state-owned fuel retailers have been "directed to stop supplies of LPG refills to households having multiple- connections for which no KYC (Know Your Customer) details have been received, with effect from June 1," a statement issued by Indian Oil Corporation, the nation's largest oil firm, said.
In a step towards dual pricing of domestic cooking gas, the government has decided to allow oil-marketing companies to sell the fuel at market prices in distinct fibreglass cylinders. IOC, BPCL and HPCL will sell these cylinders in Bangalore, Mumbai and Pune, which have been identified as test beds for the pilot project. The companies could revise fuel prices for transparent cylinders as LPG for them will not be subsidised. Feasibility of this project is yet to be adjudged.
The Oil and Natural Gas Corp has asked the government to review the scheme of sharing of liquefied petroleum gas and kerosene subsidy with upstream firms and said the scheme should not be extended beyond March 2004.
The government on Monday constituted an inter-ministerial task force under UIDAI chairman Nandan Nilekani for evolving mechanisms to provide direct subsidies on kerosene, cooking gas and fertilisers to intended beneficiaries.
In September 2012, the government had capped the number of LPG cylinders at six to reduce the subsidy burden.
Bajaj Auto has launched a new range of passenger three-wheelers, with improved mileage, changed styling and lower maintenance costs.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
India may have to lean more on West Asian nations for supplies of liquefied petroleum gas (LPG), a cooking fuel, in the coming years after Indian state-run refiners drew up big plans to diversify into producing more profitable petrochemicals. This shift leads to reduced LPG output, Indian refining executives said. The mantra for state-run oil companies, from Indian Oil Corporation (IndianOil) to liquefied natural gas (LNG) importer Petronet LNG, which are looking to diversify their businesses from lower-margin fuels, has been value-added petrochemicals.
At present, around 12 per cent of around 190 million rural households today use LPG to meet their cooking energy needs.
Liquefied petroleum gas (LPG) consumers might soon get to exercise an option to not get any subsidised cylinders.
With an eye on bigger imports, the oil marketing firm may get its French partner Total to set it up.
Finance minister Pranab Mukherjee, is also believed to be in favour of decontrolling auto fuel prices to limit the government's subsidy outgo but a decision is unlikely in the next 7-10 days as United Progressive Alliance managers build political consensus on the issue, an oil ministry official said.
The oil ministry is believed to have turned down Reliance Petroleum Ltd's request to export LPG from its newly commissioned refinery at Jamnagar in Gujarat, forcing the only-for-exports unit to sell the cooking fuel locally.
The country is facing no shortage of domestic cooking gas at the moment, Petroleum Minister Murli Deora told the Rajya Sabha on Tuesday. As on October 1, 2007, OMCs were serving 9.79 crore LPG customers through their 9,355 distributorships. OMCs have released 27.7 lakh new LPG domestic connections in the country during April-September.
This is the second postponement of the DBT launch in LPG. It was initially planned to be introduced from January 1.
India has emerged as the world's biggest cylinder-based liquefied petroleum gas user with the customer base crossing 7 crore (70 million mark), Petroleum Minister Ram Naik said.
As other members of the government have pointed out -- Rural Development Minister Jairam Ramesh and Chief Economic Advisor Kaushik Basu among them -- India cannot afford to delay increasing prices, given the ballooning subsidy bill.
Oil pricing freedom as an idea can succeed only if the ownership of the key oil refiners (read the public sector oil companies) ceases to be government-dominated.
The three govt-owned OMCs - IndianOil, BPCL and HPCL - together meet the country's entire LPG cylinder demand.
Empowered group of ministers on fuel pricing was likely to meet soon.
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