Global crude oil price of Indian Basket was US$ 60.58 per bbl on 12.12.2014
Global crude oil price of Indian Basket was US$ 60.58 per bbl on 12.12.2014
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 60.58 per barrel (bbl) on 12.12.2014. This was lower than the price of US$ 62.40 per bbl on previous publishing day of 11.12.2014.
In rupee terms, the price of Indian Basket decreased to Rs 3782.62 per bbl on 12.12.2014 as compared to Rs 3881.90 per bbl on 11.12.2014. Rupee closed weaker at Rs 62.44 per US$ on 12.12.2014 as against Rs 62.21 per US$ on 11.12.2014.
The table below gives details in this regard:
|
Particulars
|
Unit
|
Price on Dec 12, 2014 (Previous
trading day i.e. 11.12.2014)
|
Pricing Fortnight for 01.12.2014
(Nov 13 to Nov 26, 2014)
|
|
Crude Oil (Indian Basket)
|
($/bbl)
|
60.58
(62.40)
|
76.43
|
|
(Rs/bbl
|
3782.62
(3881.90)
|
4723.37
|
|
|
Exchange Rate
|
(Rs/$)
|
62.44
(62.21)
|
61.80
|
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Tapi Gas Pipeline
The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Lok Sabha in a written reply today that the proposed TAPI pipeline will have a length of 1814 kms and the estimated cost of the project as per Penspen Report of 2008, is approximately USD 7.6 billion. The volume of gas likely to be supplied to India is 38 MMSCMD (Million Metric Standard Cubic Metre per Day) for a period of 30 years.
Two Government level agreements have been signed for TAPI project namely, Gas Pipeline Framework Agreement and Inter Governmental Agreement among the four member countries.
GAIL has signed a bilateral GSPA with Turkmengas for sourcing 38 MMSCMD of natural gas for 30 years which would be transported to India through TAPI Pipeline. The investment in the pipeline project shall be made by all the project proponents, including the Consortium Leader. However, the investment structure would be finalized only after the selection of a Consortium Leader.
A Steering Committee Meeting was held on 20/11/2014 at Ashgabat, Turkmenistan. The Steering Committee reviewed the present status of the project, including progress made for selection of consortium leader.
Governments of all 4 countries are working together to select and induct a Consortium Leader in the TAPI Pipeline Company Ltd.
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Power/Captive Power Plant by IOCL
The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Lok Sabha in a written reply today that Indian Oil Corporation Limited (IOCL) has in principle approved A 4 MW solar power project at Narimanam in Tamil Nadu.
The objective is to generate green energy for captive consumption at IOCL locations directly or through grid so as to reduce carbon footprint
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Displacement of Pipelines
The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Lok Sabha in a written reply today that there has been no such case of pipelines getting submerged into the sea from its original position at several places.
However, 500 meter of the 42” South Bassein Hazira Trunkline (SBHT) of ONGC, originally buried in sea bed got exposed at Umbhrat beach in Navsari District, Gujarat and got shifted by approximately 25 meter from original position on 15-16th June, 2014. This section of about 500 meter gets submerged during high tides.
The 42” SBHT pipeline is 244 kilometer(km) long, out of which 223 km. is subsea and 21 km is on land. The first land fall point is at Umbhrat beach and thereafter the lines passes through on land, before it reaches the Oil and Natural Gas Corporation Limited (ONGC), Hazira Plant. The line was originally buried in the seabed on the shore at Umbhrat beach.
Due to erosion of sand at Umbhrat beach caused by high tides and cyclonic storm on 15th and 16th June, 2014 about 500 mts. of the line got exposed at Umbhrat beach and also shifted by approx. 25 mts. towards seaside from its original position.
ONGC is executing the project “Re-routing of the 42” line from upstream of land fall point at Umbhrat beach to downstream of the existing valve station at Umbhrat” on priority basis.
To avert such displacement of pipeline in future, M/s CWPRS, Pune has been engaged to study long term shore protection measures.
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Black Marketing of Petroleum Products
The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Lok Sabha in a written reply today that in exercise of the powers conferred by section 3 of the Essential Commodities Act, 1955 (10 of 1955), in order to regulate the marketing of petroleum products and Liquefied Petroleum Gas (LPG), the Central Government has enacted following Control Orders :
1. Kerosene (Restriction on Use and Fixation of Ceiling Price) Order, 1993;
2. Petroleum Products (Maintenance of Production, Storage and Supply) Order, 1999;
3. Solvent, Raffinate and Slop (Acquisition, Sale, Storage and Prevention of use in Automobiles) Order, 2000;
4. Naphtha (Acquisition, Sale, Storage and Prevention of use in Automobiles Order, 2000;
5. Liquefied Petroleum Gas (Regulation of Supply and Distribution) Order, 2000;
6. Motor Spirit and High Speed Diesel (Regulation of Supply and Distribution and Prevention of Malpractices) Order, 2005;
Under these Control Orders, State Governments are empowered to take action against those indulging in malpractices such as black marketing of petroleum products and LPG.
Public Sector Oil Marketing Companies (OMCs) undertake regular and surprise inspection of Retail Outlets and take action under the provisions of the Marketing Discipline Guidelines (MDG) and Dealership Agreements against the outlets found indulging in irregularities/malpractices including black marketing. Other initiatives to prevent irregularities in Retail Outlets include Automation of Retail Outlets, Third Party Certification of Retail outlets and Monitoring of movement of tank trucks through Global Positioning System (GPS).
OMCs carryout surprise inspections at distributors premises, conduct refill audits, checks at customers premises, en-route checking of delivery vehicles etc. for detecting malpractices such as pilferage from and diversion of domestic LPG cylinders. If LPG distributors are found guilty of any malpractice, punitive action is taken in accordance with the provisions of the Marketing Discipline Guidelines (MDG). Moreover, various initiatives have been taken by the Government viz. capping on supply of subsidized cylinders, de-duplication, introduction of Transparency Portal, KYC exercise and Pahal Scheme (DBTL) which will reduce the misuse and diversion of subsidized LPG cylinders.
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