The prices of steel products like Hot Rolled Coil and TMT bar have increased by 34.38 percent and 35.64 percent respectively during the last 3 years. This is owing to increase in cost of crucial raw materials, labour, transportation and other inputs. Minister of Steel, Beni Prasad Verma informed this in Lok Sabha. The minister said, although the prices of Coking Coal have decreased (in rupee terms) by 15.20 perc
Tag: price
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Govt aims to raise India’s ranking in steel output
AP Choudhary, CMD of Rashtriya Ispat Nigam (RINL) informed that government plans to raise India's global ranking in steel production to second from the present fourth position by 2020. India currently produces 71 million tonne (mn t) of steel per annum and is placed at the fourth position, China occupies the first position with over 600 mn t per annu
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Oil firms term pricing formula of Rangarajan panel as “defective”
Oil and gas exploration companies submitted their views on the recommendations of the C Rangarajan committee on natural gas pricing to union petroleum ministry. The companies argue that linking the price of domestic natural gas to that prevalent in gas-surplus economies is defective
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Oil minister does not favour change in formula
Union Petroleum Minister M Veerappa Moily warned against the move by the Finance Ministry to change the subsidy calculation formula for state-run oil marketing companies (OMCs). The finance ministry has proposed to shift from trade parity pricing of petroleum products to export parity pricing (for the sake of computing under-recoveries
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NMDC reduces iron ore lump prices by 2.2%
NMDC, which decides its monthly iron ore prices on the basis of domestic demand and supply position, reduced the same for lumps by about 2.2 per cent for March. The firm trimmed the price of ore lump by Rs 110 a tonne, with the new price being Rs 4,950 a tonne. The reduction in the price of lumps may provide some relief to d
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Demand for oil may improve in 2013
Brokerage firm Nirmal Bang expects demand for crude oil to improve slightly in 2013 following lower growth in 2012 on account of muted economic recovery. Demand is expected to grow by 1 mpbd or 0.9 percent approximately on a year-on-year (y-o-y) basis in 2013 compared to a fall of 0.4 percent last year. Dem
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Experts suggest import parity pricing for gas
Experts suggest government to introduce import parity pricing for natural gas as it is a cleaner fuel and leaves a far smaller environmental footprint. Presently, crude oil produced in the country is given import parity price. This is however denied for gas. If the same well produces oil and gas, then the former receives impor
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Experts suggest import parity pricing for gas
Experts suggest government to introduce import parity pricing for natural gas as it is a cleaner fuel and leaves a far smaller environmental footprint. Presently, crude oil produced in the country is given import parity price. This is however denied for gas. If the same well produces oil and gas, then the former receives impor
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Report on Petronet LNG deal expect in some weeks
According to media reports, a two-member team
appointed by the Petroleum Minister Veerappa Moily, to probe the alleged irregularities in the gas supply deal between Petronet LNG (PLL) and Qatar-based Ras Laffan, would submit its report in some weeks. The team was appointed by the Moily in January as the earlier inquiry ordered by former minister Jaipal Redd
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Realisation from crude oil may improve for Oil India
Goldman Sachs recently released outlook for the stocks of some of the companies in the oil and gas sector. The brokerage expects improved outlook for the scrip of Oil India owing to fuel price increases and potential gas price hike. Goldman Sachs expects Oil India's net crude realization to improve from $54 in current fiscal to $58.2 per barrel in 2014