On the basis of the suggestions made by the Rangarajan committee, the Cabinet Committee on Economic Affairs (CCEA) decided to raise the price of domestic natural gas, from $4.2 to $8.4 a million British thermal unit (mBtu), from April 2014. Once the new price is adopted, it would be revised on a quarterly basis for a period of five years, reports indicate
Tag: fuel
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Experts suggest govt to liberalise pricing regime
Experts opine that the government must incentivise private companies to produce more natural gas by giving them freedom to fix market-linked price for the fuel. The liberal pricing regime in the US allowed companies to invest in new technologies in the oil and gas sector. The abundance of shale rocks in the Ame
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Experts suggest govt to liberalise pricing regime
Experts opine that the government must incentivise private companies to produce more natural gas by giving them freedom to fix market-linked price for the fuel. The liberal pricing regime in the US allowed companies to invest in new technologies in the oil and gas sector. The abundance of shale rocks in the Ame
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Thermal plants operated at low peak load factor
Thermal power plants in the country operated at an average peak load factor (PLF) of 69.95 percent, which is a nine-year low in 2012-13 owing to insufficient availability of coal. Given the stagnation in the production of coal and natural gas, industry observers raise doubt as to how
the raw material needs of our future power projects would be met. In 2013-14, India's power generation capacity is expe
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Law ministry gives opinion on gas pricing
Government must adopt a single pricing, five-year stable regime for natural gas instead of a phased regime proposed by the petroleum ministry, union law and justice ministry said in its opinion. The petroleum ministry sought the suggestion of the law ministry on the proposal to shift to market-based pricing for domestically produced natural
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Ministry may float fresh tender for procuring ethanol
Media reports suggest that the union petroleum ministry may float fresh tender to attract domestic suppliers of ethanol for blending with petrol. The ministry decided to float a fresh tender because the earlier tender, which invited global suppliers, could not be successful as the bidders were demanding exorbitant rates for the biofuel
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OMCs raise petrol price 2nd time in June
Considering the weakening of the Indian currency against the dollar, state-run oil marketing companies (OMCs) raised the price of petrol by Rs 2 a litre recently. This is the second increase in the price of the auto fuel this month as the cost of crude oil import has risen following the depreciation of rupee. On June 1, OMCs raised price of petrol by 75 paisa, excluding VAT
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Govt to release compensation for state-run OMCs
Media reports indicate that the government may release about Rs 70 billion in six tranches of an equivalent amount every Tuesday to state oil marketing companies (OMCs) for under-recoveries during January-March period. State-run OMCs incur under-recoveries or revenue loss as they sell diesel, kerosene and cooking gas at subsidised price. The government compensates these firms for the under-recoveries every year
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Weakening rupee may prod OMCs to raise petrol price
Owing to the sharp depreciation of rupee against the dollar, Oil marketing companies (OMCs) may hike the price of petrol Rs 1.5-2 per litre, industry sources informed. In recent trading sessions, the Indian currency declined to a record low of 58.96 against the dollar because of global financial market developments. The weakening of rupee in the last four weeks caused Rs 20,000 crore of under-recoveries for state-run OMCs, medi
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Hyderabad faces shortage of CNG
Some parts of Hyderabad are facing shortage of
Compressed Natural Gas (CNG) as oil companies are allegedly not supplying the fuel in required quantity at the 12 CNG outlets in the city and its surroundings. Each outlet requires 1,500 to 1,800 kg of CNG every day but oil companies do not supply the required quantity. They hardly supply about 1,000 kg to each outlet, said Rajiv Amaram, Joint Secretary (South), Conf