With an eye on bigger imports, the oil marketing firm may get its French partner Total to set it up.
The government will phase out subsidies on LPG and kerosene by March 2007, Minister of State for Petroleum and Natural Gas Sumitra Mahajan said in a written reply to the Rajya Sabha on Tuesday.\n\n\n\n
As the state police declined the provincial administration's directive to allow police stations to be used as distribution points for the supply of liquefied petroleum gas cylinders to the consumers, the crisis has only deepened.
Reliance Industries, the country's largest LPG producer, will be spared from footing the Rs 7,200 crore (Rs 72 billion) bill for the one year freeze in LPG and kerosene prices, despite rising cost.
Currently, oil companies sell kerosene at a loss of about Rs 18 per litre.
A decision has been taken to gradually initiate Aadhaar and non-Aadhaar based LPG subsidy transfer through the OMCs.
The government is looking into demands for raising the cap on supply of subsidised cooking gas (LPG) cylinders per households, Oil Minister M Veerappa Moily said.
Ujjwala Yojana was launched on May 1, 2016 at Ballia district in Uttar Pradesh and has so far covered 47.3 million consumers in 715 districts
To contain misuse of LPG cylinders in markets, Indian Oil Corporation will soon bring out a system by which cylinder refills for domestic use will be coloured differently from those for commercial use. \n
The government has extended the supply of subsidised cooking gas to educational and social welfare institutions.\n\n\n\n
The fall in global oil prices has trimmed the losses of state-owned oil companies, but it may not be enough to prevent a Rs 4 per litre increase in diesel prices and a Rs 20-25 per cylinder hike in LPG rates later this month.
The rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
LPG demand this fiscal is expected to be around 11 million tonne, against around 10.2 million tonne last year. It is the subsidised price of LPG, which is available at around Rs 21 per kg for domestic use. LPG for industries, which is outside price control, is sold at around Rs 58 per kg, up from around Rs 36 per kg last year.
Bowing to party pressure, the government on Thursday raised the quota of subsidised LPG to 12 cylinders per household in a year from nine at present and also put on hold paying users the subsidy into bank accounts using Aadhaar platform.
Delhiites will have to shell out more from their pockets for virtually everything from cooking gas to diesel with Delhi government on Monday withdrawing subsidy on LPG and increasing VAT on many items to "generate" additional revenue.
While LPG price was raised by Rs 18, kerosene saw a hike of Rs 3 per litre
Price of diesel, LPG and kerosene will have to go up.
If the quota is raised to 12, about 97 per cent of the LPG consumers would be covered by subsidised LPG.
The Manipur government on Tuesday lifted the suspension on broadband internet conditionally in a 'liberalised manner', nearly three months after it was banned due to the ethnic violence in the state.
Reliance Industries on Friday dubbed as a "canard" allegations that the near-doubling of natural gas prices will lead to a similar hike in domestic cooking gas (LPG) and inflation in food item rates.
IOC and other oil firms have been paying LPG consumers in 54 districts up to Rs 500 to help them buy a 14.2-kg cooking gas refill at market price, which is more than double of Rs 410 per bottle rate in Delhi.
The scarcity of resources is particularly evident in the case of Rajasthan compared to many other states.
Finance Minister P Chidambaram had last week stated that there were demands from 'several chief ministers' for raising the quota of subsidised cylinders and the government 'will look into' them.
"(The) government has conveyed approval to public sector oil marketing companies to formulate a scheme for surrendering (of the) LPG connection by a customer who is being supplied piped natural gas," Petroleum Minister Murli Deora said. Alternately, the customer can also choose to keep the connection in safe custody. Thus, if he changes residence to an area not covered by PNG, he can avail a new LPG connection at the surrendered security deposit rate on a priority basis.
Truck drivers protesting against a provision in the new penal law on hit-and-run road accidents, called off their strike in Nashik district of Maharashtra on Tuesday after the local authorities assured to look into their demands.
The government on Wednesday hiked the prices of petrol, diesel and LPG by Rs 5, Rs 3 and Rs 50 respectively.
The government will provide private companies subsidy equivalent to that given to state retailing firms on LPG, petroleum secretary B K Chaturvedi said.
The government on Monday said it would overcome the problem of LPG shortage in the country by Diwali.
The government is working on a plan to pass on part of the revenue loss public sector oil marketing firms are incurring on sale of liquefied petroleum gas and kerosene, to refiners, including Reliance Industries Ltd.
Calling himself 'Shramik No.1' (Worker No.1), he listed out initiatives taken by his government for the welfare of labourers.
It proposed that smart cards be issued to BPL families for supply of subsidised kerosene in urban and semi-urban areas to cut diversion of the fuel to unintended users. The panel also suggested a cash transfer system, whereby funds can be transferred to BPL families through a banking or postal system for purchasing of kerosene, instead of supplying the fuel much below the market price.
A week after the steep hike in petrol prices by Rs 5 a litre, the government on Monday said a ministerial panel is likely to meet in the next few days to take a decision on raising diesel, LPG and kerosene rates.
Normal life was disrupted in Kashmir on Friday due to a strike called by an amalgam of trading bodies seeking an increase in the number of subsidised LPG cylinders in the Valley.
The government is likely to extend by two more years subsidies on LPG and kerosene while asking the state-run oil firms to bear part of the Rs 14,000 crore under-recoveries due to unchanged prices despite a rise in the cost of raw material.
Cooking gas distributors are threatening to go on strike on October 1, opposing the restriction on sale of subsidised cylinders.
The cap on cylinders would burden the Centre, which will need to compensate the states for the increased cooking fuel cost.
Air fares to go up as ATF price is hiked by 8.2%.
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