Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
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Power Ministry wants 90% off coal price
New Delhi: In a move that could trigger a fresh controversy over the valuation of natural resources, the Power Ministry has sought that the reserve price of coal blocks to be offered through the competitive bidding route be set at 90 per cent discount on the intrinsic value of the mine. The demand comes as the Coal Ministry gears up to auction about 54 blocks following the controversy over “notional losses” because of blocks being offered without auctions during 2004-09.
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Govt may Hike Fuel Prices to Offset Cost of Extra Cylinders
The oil ministry may raise prices of diesel by . 1 a litre or that of cooking gas by . 100 to neutralise the impact of its plan to increase the supply of subsidised cylinders to households, government
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Govt buries panel’s income cap plan for LPG subsidy
Close on the heels of the government rejecting the standing committee on finance's decision to keep 26% FDI cap in the insurance sector, fresh tension is brewing between the parliamentary panel on petroleum and natural gas and the Centre over a proposal to limit the sale of subsidised cooking gas to individuals with an annual income of less than R6 lakh. While the panel has favoured this formula to make the government's subsidy scheme more targeted, the Centre has quietly buried the proposal. If the House panel's proposal is implemented, households with any one individual earning more than R 6 lakh a year would not eligible for subsidised cooking gas and would have to buy the fuel at market prices.
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Cabinet Committee clears new urea investment policy
Policy aims to incentivise fertilizer cos to set up new plants The Cabinet Committee on Economic Affairs (CCEA), on Thursday, approved a urea investment policy, which is likely to incentivise fertilizer companies to set up new plants and expand existing capacity. India imports over 30 per cent of its urea requirement and the policy aims at reducing that. But it is unlikely to have any impact on existing prices. “The new urea investment policy has been cleared,” sources said after the CCEA meeting here.
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Kochi terminal benefits distant for Petronet LNG
Petronet LNG has gained 31.5 per cent since the closing lows of Rs 122.77 in May. The rise comes on the back of benefits accruing to the company from the steady rise in demand for gas. The supply, however, has been limited, given the falling production from the Krishna-Godavari (KG) basin. The company’s volumes have risen 6.3 per cent to 135 trillion British thermal units (TBTU), or 2.6 million tonnes, in the September quarter, as compared to 127 TBTU in the June quarter. The company has 10 mtpa capacity at Dahej (Gujarat) and is likely to commission its five mtpa Kochi plant by the March 2013 quarter. However, in the absence of a proper pipeline infrastructure, the contribution from Kochi could remain limited to one mtpa, analysts say. Thus, the benefits from the new capacities will not accrue in the near term.
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Review cap on subsidised LPG cylinder, panel tells government
Deploring the government for introducing a cap on subsidised LPG cylinders in an arbitrary manner, the Parliamentary Standing Committee on Petroleum and Natural Gas has asked the government to review the cap of six cylinders a household a year. It said such restrictions should not be placed on people having income below a threshold. The panel, headed by Aruna Kumar Vundavalli, said it recommended last year ending supply of LPG cylinders to the rich and affluent sections who, it described as, people having annual income more than Rs. 6 lakh and those holding constitutional posts and public representatives such as MPs and MLAs. It had asked the government to review and amend the decision in line with the panel's recommendations.
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LPG cylinder cap may be raised to 9 a year
Cabinet will have to clear proposal: Moily The Manmohan Singh government indicated on Tuesday that the cap on the subsidised LPG cylinders would go up from six to nine a household a year. “I think it is likely to go up definitely from six to nine cylinders, and the Cabinet [Committee on Political Affairs] will have to grant its approval to the proposal,” Petroleum and Natural Gas Minister Veerappa Moily told journalists at a function here on Tuesday.
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NTPC goes back on demands, to sign fuel supply pacts with CIL
State-run NTPC has decided to sign fuel supply agreements (FSAs) with Coal India in a month, without any major change in the norms of draft FSAs. Both firms decided to bury differences at a meeting in Kolkata on Monday between the chiefs of the public sector undertakings, S Narsing Rao of CIL and Arup Roy Choudhury of NTPC. “Both parties have discussed various issues. Many of the problems can be thrashed out and the FSAs can be signed in a month,” Roychoudhury said. Rao said the Kolkata-based coal major will not go for a change in the revised draft FSAs, cleared by its board in September. In January, a meeting will be held in this regard to sign FSAs.
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Rangarajan panel to suggest basis for gas pricing
The high-level committee on production sharing contracts is set to change the rules for investment in the oil and gas sector. Chaired by C Rangarajan, chairman of the Prime Minister’s Economic Advisory
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Economic and social survey of Asia and the Pacific 2012: year-end update
Falling demand in the developed world has led to a broad-based economic slowdown in Asia and the Pacific, lowering economic growth forecasts. The impact of slowdown will challenge regional inclusive and