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The natural gas purchase price from the natural gas producers, like ONGC, Oil India Ltd. and private companies, is fixed by the government based on prices prevailing in the US, Russia, the UK and Canada. [63] LNG price is linked to the prevailing crude oil price in global markets. [64]
The Indian basket of Crude Oil represents a derived basket comprising Sour grade (Oman and Dubai average) and Sweet grade (Brent Dated) of Crude oil processed in Indian refineries. During the year 2018-19, the ratio is 75.50 : 24.50 (Dubai : Brent respectively) [2] and during the year 2017-2018, the ratio was 74.77 : 25.23 (Dubai : Brent).
The commission set the price of gas below the market rate, resulting in price distortions. The low prices encouraged consumption and discouraged production. By the 1970s, there were shortages of price-regulated interstate gas, while unregulated gas within the gas-producing states (intrastate gas) was plentiful, but more expensive.
It was the world's longest LPG pipeline when commissioned and supplied 1.7 million TPA to Northern India. To secure gas for its mainstream business, the Exploration and Production department was created. Today GAIL is a partner in the Daewoo-OVL-LED consortium in two offshore blocks in Myanmar.
India's gas demand is being hit by state-level restrictions aimed at stemming a rampant second wave of coronavirus infections, the chief executive of Adani Total Gas Ltd said on Tuesday. With 3.45 ...
Give Up LPG Subsidy is a campaign that was launched in March 2015 by the Indian government led by Prime Minister Narendra Modi. It is aimed at motivating LPG users who are able to afford to pay the market price for LPG to voluntarily surrender their LPG subsidy. [1] As of 23 April 2016, 10 million people had voluntarily given up the subsidy. [2]
Indian Gas Exchange (IGX) is a wholly owned subsidiary of IEX, which involves in trading spot and forward contracts of Gas. [6] The exchange has over 500 registered clients and 15 members. It currently operates from three physical hubs — Hazira , Dahej and KG Basin .
Indane [3] [4] is a subsidiary of Indian Oil Corporation which is under the ownership of Ministry of Petroleum and Natural Gas of the government of India. It is the world's second largest government-owned subsidiary responsible for manufacturing LPG. [5] The brand was conceived in 1964 to bring modern cooking to Indian kitchens.