According to industry sources, the cost of electricity would be less than Rs 6 a kWh if the price of imported natural gas is pooled with that of the domestic one. Further, gas price pooling would enable power companies to run their units at 50 per cent plant load factor, sources informed. Sources feel that the gas price pooling mechanism for power sector, if implemented, would result in a price of les
Tag: price
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Govt may spare LPG from export-parity pricing
Media reports indicate that the government may spare domestic cooking gas from the trade-parity pricing methodology that it proposes to adopt for calculating under-recoveries on fuel products. Thus, the government would calculate under-recoveries incurred by state-run oil marketing companies (OMCs) based on export parity price for diese
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Kerala govt assures court to bear liability
Adovcate General of Kerala government assured the Kerala High court that the state government would bear the liability of oil marketing companies if the petition filed by Kerala State Transport Corporation was finally dismissed. Following this, the court restrained oil companies from increasing the price of diesel being supplied to cash
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GSPC may start production from KG basin block
By the middle of the year 2013, Gujarat State Petroleum Corp (GSPC) may start producing natural gas from the Deen Dayal (DD)-West gas fields in the Krishna Godavari basin (KG basin), media reports indicate. In mid-2005, the Gujarat government-owned GSPC announced a gas discovery at the DD-west block. Such
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OMCs ask Kerala govt to forgo sales tax
State-run oil marketing companies (OMCs)
Indian Oil Corporation and Hindustan Petroleum Corporation argued that Kerala government must forgo the sales tax of Rs 12 imposed on a litre of diesel. The oil companies argued this in response to a petition filed by the Kerala State Road Transport Corporation (KSRTC) in the state High Court against these comp
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Private refiners warn that they may export fuel
Private sector oil refining companies warned that they would export their diesel and Liquefied Petroleum Gas (LPG) instead of selling them to the local state-run oil marketing companies (OMCs). The warning comes in response to the finance ministry's proposal to calculate domestic fuel price based on Export Parity Price (EPP) instead of the curr
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Credit Suisse expects better prospect for cement firms
In the next two years, prospect of cement companies may improve as supply pressure eases and demand rises, a research report by Credit Suisse shows. Cement firms have been battling supply glut because of excess capacity, which was built in anticipation of strong demand from the infrastructure projects
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Court directs OMCs not to open new outlets
Karnataka high court directed all state-run oil marketing companies (OMCs) not to open new retail outlets till it completes the heading of a petition filed by an dealers association. The Karnataka State Petroleum Dealers Welfare Association filed a petition with the court after OMCs kept
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Sale of bulk diesel declines sharply
According to media reports, sale of diesel to bulk customers declined about 40 percent in February, the first month after the government allowed oil firms to charge market price for bulk consumers. It may be noted that bulk diesel sales usually account for 18 percent of the 70 million tonne of diesel consumed in
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Ore shortage has not affected output in PSU firms
Production of state-run steel companies - Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL) - is not affected owing to scarcity of iron ore or coking coal. Minister of State for Commerce & Industry, D Purandeswari informed the Lok Sabha. SAIL has been alloca