Global Crude oil price of Indian Basket was US$ 42.26 per bbl on 04.05.2016
Global
Crude oil price of Indian Basket was US$ 42.26 per bbl on 04.05.2016
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$ 42.26 per barrel (bbl) on 04.05.2016. This
was lower than the price of US$ 43.05 per bbl on previous publishing day of
03.05.2016.
In rupee terms, the price of Indian Basket decreased
to Rs. 2811.68 per bbl on 04.05.2016 as compared to Rs. 2852.72 per bbl on
03.05.2016. Rupee closed weaker at Rs 66.54 per US$ on 04.05.2016
as against Rs 66.27 per US$ on 03.05.2016. The table
below gives details in this regard:
|
Particulars
|
Unit
|
Price on May 04, 2016
(Previous trading day i.e.
03.05.2016)
|
Pricing Fortnight for 01.05.2016
(13 Apr to 27 Apr, 2016)
|
|
Crude Oil (Indian Basket)
|
($/bbl)
|
42.26
(43.05)
|
41.08
|
|
2811.68 (2852.72)
|
2732.23
|
||
|
Exchange Rate
|
66.54
(66.27)
|
66.51
|
Daily Crude Oil Price-
05.05.2016
******************
Global Crude oil price of Indian Basket was US$ 43.05
per bbl on 03.05.2016
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$ 43.05 per
barrel (bbl) on 03.05.2016. This was lower than the price of US$ 44.59 per bbl
on previous publishing day of 02.05.2016.
In rupee terms,
the price of Indian Basket decreased to Rs. 2852.72 per bbl on 03.05.2016 as
compared to Rs. 2958.23 per bbl on 02.05.2016. Rupee closed stronger at Rs 66.27
per US$ on 03.05.2016 as against Rs 66.34 per US$ on 02.05.2016. The table below gives details in this regard:
|
Particulars
|
Unit
|
Price on May 03, 2016
(Previous trading day i.e.
02.05.2016)
|
Pricing Fortnight for 01.05.2016
(13 Apr to 27 Apr, 2016)
|
|
Crude Oil (Indian Basket)
|
($/bbl)
|
43.05
(44.59)
|
41.08
|
|
2852.72 (2958.23)
|
2732.23
|
||
|
Exchange Rate
|
66.27
(66.34)
|
66.51
|
Daily Crude Oil
Price- 04.05.2016
Voluntary Surrender of Subsidy on Domestic LPG
The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Rajya Sabha in a written reply today that as on 01.05.2016 more than 1 crore LPG customers have given up LPG subsidy under the ‘GiveItUp’ campaign. State/UT-wise number of LPG consumers who have given up their subsidy is at Annexure-I.
Annexure-I
| ||
Annexure referred to Part (a) of Raja Sabha Unstarred Q.No. 1244 answered on 04.05.2016 regarding 'Voluntary Surrender of Subsidy on Domestic LPG'.
| ||
State wise Opt out status as on Date- 01.05.2016
| ||
State
|
Industry Total
| |
Andaman and Nicobar Islands
|
2773
| |
Andhra pradesh
|
237391
| |
Arunachal Pradesh
|
22713
| |
Assam
|
184505
| |
Bihar
|
430864
| |
Chandigarh
|
17849
| |
Chhattisgarh
|
135487
| |
Daman and Diu
|
2420
| |
Delhi
|
730633
| |
Dadra and Nagar Haveli
|
4707
| |
Goa
|
36423
| |
Gujarat
|
445491
| |
Himachal Pradesh
|
67582
| |
Haryana
|
320484
| |
Jharkhand
|
92912
| |
Jammu and Kashmir
|
166342
| |
Kerala
|
293162
| |
Karnataka
|
707860
| |
Lakshadweep
|
143
| |
Manipur
|
46123
| |
Meghalaya
|
7404
| |
Maharashtra
|
1649006
| |
Mizoram
|
43854
| |
Madhya Pradesh
|
428985
| |
Nagaland
|
31233
| |
Odisha
|
143242
| |
Puducherry
|
14067
| |
Punjab
|
397181
| |
Rajasthan
|
651068
| |
Sikkim
|
7693
| |
Telangana
|
347170
| |
Tamil Nadu
|
649097
| |
Tripura
|
17047
| |
Uttar Pradesh
|
1254924
| |
Uttarakhand
|
142506
| |
West Bengal
|
347849
| |
Total
|
10078190
| |
**********
Utilisation of Coal Bed Methane
The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Rajya Sabha in a written reply today that the exploration of Coal Bed Methane from coal seams before coal mining would not only help India meet its energy needs, but would also help reduce green house gas emission.
Government of India, in 1997, announced CBM Policy initiative to tap this energy resource and awarded 33 CBM Blocks to different PSU/Private/JV companies. So far 9.9 TCF reserve as Gas in Place (GIP) has been established in 8 CBM blocks.
Government of India, in 2015, granted right of CBM exploration and exploitation of Coal India Limited and its subsidiaries from its lease hold areas for coal mining. This initiative will bring additional areas under CBM exploitation.
Government of India, in 1997, announced CBM Policy initiative to tap this energy resource and awarded 33 CBM Blocks to different PSU/Private/JV companies. So far 9.9 TCF reserve as Gas in Place (GIP) has been established in 8 CBM blocks.
Government of India, in 2015, granted right of CBM exploration and exploitation of Coal India Limited and its subsidiaries from its lease hold areas for coal mining. This initiative will bring additional areas under CBM exploitation.
*****
Reforms in Oil and Gas Exploration
The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Rajya Sabha in a written reply today that the Government takes various policy and administrative initiatives from time to time to facilitate hydrocarbon exploration in the country. Some of the policy decisions taken by the Government in recent years to enhance exploration and production activities are as under:
• Government has approved Hydrocarbon and Exploration Licensing Policy (HELP) and same has been notified on 30th March 2016. This policy provides for a uniform licensing system to explore and produce all hydrocarbons such as oil, gas, coal bed methane, shale oil/gas, etc. under a single licensing framework Policy also provides many incentives such as reduced royalty rates for offshore blocks, marketing & pricing freedom and easy to administer revenue sharing model.
• Marketing and Pricing freedom for new gas production from Deepwater, Ultra Deepwater and High Pressure-High Temperature areas subject to certain conditions.
• Discovered Small Fields Policy- 67 oil & gas fields which have been held by ONGC and OIL for many years, but have not been exploited, has been approved for bidding under this policy. • Policy for grant of extension to the Production Sharing Contracts of 28 Small and medium sized discovered blocks.
• Policy Framework for relaxation, extensions and clarifications at the development and production stage under PSC regime for early monetization of hydrocarbon discoveries: Government approved this policy on 10.11.2014, and the same is being implemented. Under this policy, about 40 pending cases have been resolved.
• New Domestic Natural Gas price Guidelines, 2014: Under these guidelines, gas price has been linked to the market/ important hub prices.
• Government has approved Hydrocarbon and Exploration Licensing Policy (HELP) and same has been notified on 30th March 2016. This policy provides for a uniform licensing system to explore and produce all hydrocarbons such as oil, gas, coal bed methane, shale oil/gas, etc. under a single licensing framework Policy also provides many incentives such as reduced royalty rates for offshore blocks, marketing & pricing freedom and easy to administer revenue sharing model.
• Marketing and Pricing freedom for new gas production from Deepwater, Ultra Deepwater and High Pressure-High Temperature areas subject to certain conditions.
• Discovered Small Fields Policy- 67 oil & gas fields which have been held by ONGC and OIL for many years, but have not been exploited, has been approved for bidding under this policy. • Policy for grant of extension to the Production Sharing Contracts of 28 Small and medium sized discovered blocks.
• Policy Framework for relaxation, extensions and clarifications at the development and production stage under PSC regime for early monetization of hydrocarbon discoveries: Government approved this policy on 10.11.2014, and the same is being implemented. Under this policy, about 40 pending cases have been resolved.
• New Domestic Natural Gas price Guidelines, 2014: Under these guidelines, gas price has been linked to the market/ important hub prices.
********
Different Rates for Supply of Natural Gas in States
The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Rajya Sabha in a written reply today that the delivered price of gas varies from customer to customer depending upon the basic price of gas, transportation cost, local taxes and levies. The natural gas consumed in the country can be categorized into two category viz., domestic gas and imported Regasified Liquefied Natural Gas (RLNG). The price of domestic natural gas is determined in accordance with the New Domestic Natural Gas Pricing Guidelines, 2014. As per the above guidelines, the base price of domestic natural gas supplied is same for all consumers irrespective of their location and sector, except for North East Region where the rate is 60% of the notified rate for certain allocations. The imported RLNG is being supplied at market determined prices by different gas suppliers/importers and Government does not control the prices of imported RLNG.
******
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