The document discusses the Reliance Industries Ltd (RIL) discovery and development of natural gas reserves in India's Krishna Godavari basin. It describes how RIL was awarded exploration rights in 1991 and discovered major reserves in 2002. It then discusses the ongoing controversy over the appropriate pricing of gas from RIL's KG D6 block, with RIL demanding higher prices than other producers and the government approving price hikes over objections from activists. The impact of higher gas prices on Indian consumers and industry is also covered.
New base energy news issue 873 dated 15 june 2016Khaled Al Awadi
Greetings,
Attached FYI (NewBase Special 15 June 2016 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In today’s issue you will find news about:-
• UAE: Ipic seeks $6.5B from 1Malaysia Development Bhd ( 1MDB)
• Oman: Natural gas consumption rises as output surges by 8.3%
• Tunisia: DualEx Energy surrenders Bouhajla Permit
• Indonesia rejects Exxon proposal to boost Cepu block output
• India: Rosneft Mimics Saudi Strategy to Get Foothold in India
• Norway: Plan Development for Oseberg Vestflanken 2 sanctioned
• US: First new nuclear reactor in almost two decades Starts Ops
• Venezuela's Oil Production Tumbles as Economic Crisis Worsens
• US oil falls to 3-week low on inventory gains, Brexit fears
• IEA sees oil market balance in 2016, surplus to re-emerge next year
• Cheap gas, coal will not hobble investment in renewable energy, says report
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :- khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
New base energy news issue 873 dated 15 june 2016Khaled Al Awadi
Greetings,
Attached FYI (NewBase Special 15 June 2016 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In today’s issue you will find news about:-
• UAE: Ipic seeks $6.5B from 1Malaysia Development Bhd ( 1MDB)
• Oman: Natural gas consumption rises as output surges by 8.3%
• Tunisia: DualEx Energy surrenders Bouhajla Permit
• Indonesia rejects Exxon proposal to boost Cepu block output
• India: Rosneft Mimics Saudi Strategy to Get Foothold in India
• Norway: Plan Development for Oseberg Vestflanken 2 sanctioned
• US: First new nuclear reactor in almost two decades Starts Ops
• Venezuela's Oil Production Tumbles as Economic Crisis Worsens
• US oil falls to 3-week low on inventory gains, Brexit fears
• IEA sees oil market balance in 2016, surplus to re-emerge next year
• Cheap gas, coal will not hobble investment in renewable energy, says report
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :- khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
Microsoft word new base 661 special 10 august 2015Khaled Al Awadi
ttached FYI ( NewBase Special 10 August 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
• Kuwait energy project spending to hit $100 billion
• Morocco's sole refinery to shut due to financial problems
• UK: Europa Oil & Gas ble Planning Inspectorate decision on its Holmwood
• U.S. Pump Prices Slip to Three-Month Low in Lundberg Survey
• Crude prices down on chronic oversupply, poor China data
• Oil prices to stay lower for longer on supply glut: QNB
• Tesla burns cash, loses more than $4,000 on every car sold
• Oil companies need to resurrect stalled projects
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Greetings,
Attached FYI ( NewBase Special 27 July 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.comor khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
Greetings ,
Attached FYI ( NewBase Special 15 January 2015 ) , with energy news
covering the MENA area and related world wide energy news.
• UAE can save $2bn a year by ramping up renewable energy generation, says Irena head
• Oman: OOCEP opens $1.3b Abu Butabul gas field processing plant
• Algeria-EU: Studies on sustainable energy launched in 3 provinces
• US: Judge Puts BP's Top Fine at $13.7 Billion for Gulf Oil Disaster; U.S. Sought $18 Billion
• Oil price slump and The same move yet under two starkly different scenarios
• Amid US oil crash, cost cutting ripples through industry
• OPEC To See Market Share Drop Even As Shale Boom Slows
Regards .
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS. & BS Mechanical Engineering (HON), USA
Emarat member since 1990
Liquefied natural gas (LNG) is rapidly changing the structure of the global gas industry.
Flexible in transportation, safe in use, and competitive in supply, LNG today has already won more than 40% of the physical volume of world gas exports and is expected to reach 60% by 2040. In 2020, the development of the LNG market underwent significant transformations, as the COVID-19 pandemic posed a challenge to the global economy.
New base energy news issue 853 dated 18 may 2016Khaled Al Awadi
Greetings,
Attached FYI ( NewBase Special 18 May 2016 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In today’s issue you will find news about:-
• UAE: ENEC approves formation of Nawah energy company
• Greece and partners sign off Trans-Adriatic Pipeline to widen gas supply
• India Gropes its Way towards Market Prices
• Canada: Alberta wildfire destroys oil sands work camp as thousands of staff evacuated
• US: EIA’s Annual Energy Outlook is a projection, not a prediction
• Oil prices remain near 2016 highs on global supply disruptions
• Is Saudi Arabia calling the market's bluff over oil?
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
Gas Arabia Summit: Unconventional Gas Developments in the GulfEnergy Intelligence
Rana Samaha, Middle East R&A Director at Energy Intelligence, presented at the 10th Gas Arabia Summit, Dubai, January 13, 2015.
These slides include content on:
1.) US Shale gas developments: Key success factors
2.) GCC gas imbalances; role of unconventional gas developments
3.) GCC NOC's different approaches; Saudi Aramco's mandate
Businessweek 11 May 2010 Reliance power to negotiate commercial issues on gasJagannadham Thunuguntla
“The verdict has signaled that the end-game is near and the two companies will have to sit down and talk,” Jagannadham Thunuguntla, head of equity at SMC Capitals Ltd. in New Delhi, said by telephone today. “The party which came out behind in the verdict may have to blink first.”
Bloomberg UTV 11 May 2010 Reliance power to negotiate commercial issues on gasJagannadham Thunuguntla
“The verdict has signaled that the end-game is near and the two companies will have to sit down and talk,” Jagannadham Thunuguntla, head of equity at SMC Capitals Ltd. in New Delhi, said by telephone today. “The party which came out behind in the verdict may have to blink first.”
“The verdict has signaled that the end-game is near and the two companies will have to sit down and talk,” Jagannadham Thunuguntla, head of equity at SMC Capitals Ltd. in New Delhi, said by telephone today. “The party which came out behind in the verdict may have to blink first.”
Aranca views - Shale Gas - the Next Cradle of Energy?Aranca
As of 2013, recoverable shale gas resources account for nearly one third of the total gas energy resources of the world. The article highlights US, Europe, China, Canada & GCC region's shale gas statistics, impacts & consumption.
June 2014 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
INDUSTRY ANALYSIS : Oil & Gas Industry
COMPANY ANALYSIS : HPCL
Concept of the Month
Quiz
Did You Know?
Microsoft word new base 661 special 10 august 2015Khaled Al Awadi
ttached FYI ( NewBase Special 10 August 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
• Kuwait energy project spending to hit $100 billion
• Morocco's sole refinery to shut due to financial problems
• UK: Europa Oil & Gas ble Planning Inspectorate decision on its Holmwood
• U.S. Pump Prices Slip to Three-Month Low in Lundberg Survey
• Crude prices down on chronic oversupply, poor China data
• Oil prices to stay lower for longer on supply glut: QNB
• Tesla burns cash, loses more than $4,000 on every car sold
• Oil companies need to resurrect stalled projects
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Greetings,
Attached FYI ( NewBase Special 27 July 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.comor khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
Greetings ,
Attached FYI ( NewBase Special 15 January 2015 ) , with energy news
covering the MENA area and related world wide energy news.
• UAE can save $2bn a year by ramping up renewable energy generation, says Irena head
• Oman: OOCEP opens $1.3b Abu Butabul gas field processing plant
• Algeria-EU: Studies on sustainable energy launched in 3 provinces
• US: Judge Puts BP's Top Fine at $13.7 Billion for Gulf Oil Disaster; U.S. Sought $18 Billion
• Oil price slump and The same move yet under two starkly different scenarios
• Amid US oil crash, cost cutting ripples through industry
• OPEC To See Market Share Drop Even As Shale Boom Slows
Regards .
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS. & BS Mechanical Engineering (HON), USA
Emarat member since 1990
Liquefied natural gas (LNG) is rapidly changing the structure of the global gas industry.
Flexible in transportation, safe in use, and competitive in supply, LNG today has already won more than 40% of the physical volume of world gas exports and is expected to reach 60% by 2040. In 2020, the development of the LNG market underwent significant transformations, as the COVID-19 pandemic posed a challenge to the global economy.
New base energy news issue 853 dated 18 may 2016Khaled Al Awadi
Greetings,
Attached FYI ( NewBase Special 18 May 2016 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In today’s issue you will find news about:-
• UAE: ENEC approves formation of Nawah energy company
• Greece and partners sign off Trans-Adriatic Pipeline to widen gas supply
• India Gropes its Way towards Market Prices
• Canada: Alberta wildfire destroys oil sands work camp as thousands of staff evacuated
• US: EIA’s Annual Energy Outlook is a projection, not a prediction
• Oil prices remain near 2016 highs on global supply disruptions
• Is Saudi Arabia calling the market's bluff over oil?
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
Gas Arabia Summit: Unconventional Gas Developments in the GulfEnergy Intelligence
Rana Samaha, Middle East R&A Director at Energy Intelligence, presented at the 10th Gas Arabia Summit, Dubai, January 13, 2015.
These slides include content on:
1.) US Shale gas developments: Key success factors
2.) GCC gas imbalances; role of unconventional gas developments
3.) GCC NOC's different approaches; Saudi Aramco's mandate
Businessweek 11 May 2010 Reliance power to negotiate commercial issues on gasJagannadham Thunuguntla
“The verdict has signaled that the end-game is near and the two companies will have to sit down and talk,” Jagannadham Thunuguntla, head of equity at SMC Capitals Ltd. in New Delhi, said by telephone today. “The party which came out behind in the verdict may have to blink first.”
Bloomberg UTV 11 May 2010 Reliance power to negotiate commercial issues on gasJagannadham Thunuguntla
“The verdict has signaled that the end-game is near and the two companies will have to sit down and talk,” Jagannadham Thunuguntla, head of equity at SMC Capitals Ltd. in New Delhi, said by telephone today. “The party which came out behind in the verdict may have to blink first.”
“The verdict has signaled that the end-game is near and the two companies will have to sit down and talk,” Jagannadham Thunuguntla, head of equity at SMC Capitals Ltd. in New Delhi, said by telephone today. “The party which came out behind in the verdict may have to blink first.”
Aranca views - Shale Gas - the Next Cradle of Energy?Aranca
As of 2013, recoverable shale gas resources account for nearly one third of the total gas energy resources of the world. The article highlights US, Europe, China, Canada & GCC region's shale gas statistics, impacts & consumption.
June 2014 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
INDUSTRY ANALYSIS : Oil & Gas Industry
COMPANY ANALYSIS : HPCL
Concept of the Month
Quiz
Did You Know?
SMC Capital Equity head Jagannadham Thunuguntla said, "The increase in valuations were major concerns for investors and this correction was long overdue. Fundamentals in the markets were long forgotten. For the last few days it was liquidity-driven momentum."
Indolink June 15, 2009 Sensex Tumbles By 362 Pts After HC Ruling On RilJagannadham Thunuguntla
SMC Capital Equity head Jagannadham Thunuguntla said, "The increase in valuations were major concerns for investors and this correction was long overdue. Fundamentals in the markets were long forgotten. For the last few days it was liquidity-driven momentum."
Activities in oil and gas industry,Top 10 oil and gas companies in India, contribution to India's GDP,oil supply and Demand in India, challenges for the oil and gas industry, Investment and FDI.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
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Memorandum Of Association Constitution of Company.pptseri bangash
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
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Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
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Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
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External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
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To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
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(i.e., industry structure in the language of economics).
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2. Background
KG Basin is considered to be the largest natural gas basin in India.
In 1991, Reliance Industries got the rights to explore the D6 block as
per NELP (New Exploration and Licensing policy)
Reliance Industries discovered the biggest gas reserve in Krishna Godavari
basin . The site is called Dhirubhai 6 which is 7,645 sqkm in area.
In 1999 the government came up with the New Exploration Licensing Policy
(NELP) allowing private players to enter
Later RIL (divided between the two brothers) bagged the contract for D6
block of the Krishna Godavari river basin in Andhra Pradesh
3. Contd..
Production sharing contract (PSC) was signed in April 2000 between the
government and RIL and its minor (10 %) partner, NIKO Resources Ltd (a
Canadian corporation), for exploration & production of gas/oil.
Around 7 trillion cubic feet of natural gas was discovered by Reliance in the
Krishna Godavari basin in October 2002
Initial development cost at $2.4 billion was revised in 2006 to $5.2 billion in
the first phase and $3.3 billion in the second
The D6 was to produce 40 million MMSCD (Million Cubic meters per day),
which was revised to 80 MMSCD.
4. Without drilling adequate wells, Reliance kept on claiming that there was potential for
petroleum
The investments were quadrupled on paper & the capacity of commercial production
was doubled resulting in drastically reducing/ delaying the profit sharing with the
government.
5. Pricing of Reliance KG D6 Gas
Before 2009 Oil and Natural Gas Corporation (ONGC, a PSU) gas was being
sold at the rate of $1.83 per unit.
In 2004, RIL bid a price of $2.34 per unit to National Thermal Power
Corporation (NTPC, a PSU) against international competitive bidding.
RIL had second thoughts about its bid and refused to sign a Gas Sale and
Purchase Agreement forcing NTPC to file a suit against RIL in Bombay High
Court in December 2005
In 2007 matter of KG D6 gas price was referred to an Empowered group of
ministers (EGoM) led by the then finance minister, Pranab Mukherjee, who
approved a rate of $4.2 per unit for five years.
6. RIL refused NTPC to sell the gas at $2.34 & instead forced the govt. to grant them a
price of $4.2, all the while when ONGC was being allowed a price of $1.83.
RIL demanded ‘import parity’ price of $14.2 while the production came down to 31
MMSCMD (from 61) when it was supposed to go up to 80, apparently due to
‘technical snags’ and lack of gas!
The ministry had approved another price hike doubling the price of gas from $4.2
per unit to $8.4 per unit.
Arvind Kejriwal filed an FIR for cheating against Mukesh Ambani & Moily. He was
trying to stall the new price hike from April 2014
7. Current Status
The ministry had approved another price hike doubling the price of gas
from $4.2 per unit to $8.4 per unit proposed by Ragarajan Committee.
No substantial explanations are backed for this rise in price.
Cases have been filed by various social activists related to the alleged fraud
in pricing method.
The BJP government coming to power have suspended the rise in price for
3 months and the final hearing on this is to made on 30th of September by
the supreme court.
8. Kelkar committee Recomendations
The first model just tweaks the existing PSC. In this model the managing
committee and directorate general of hydrocarbons focus only on standards
and best practices, without assessing costs. Oversight will be left to the tax
authorities, who already oversee other forms of government share such as
royalties and taxes.
Kelkar's second model is a supernormal tax model. This gives the
government no share of oil or gas at all. Instead, the government gets just
royalties and taxes when profits are limited. When profitability crosses a
certain threshold, a supernormal tax kicks in, providing a much higher
government take.
9. Impact on Society
The decision to hike the gas price from existing USD 4.2 (Rs. 262.25) MMBTU (
one million British thermal unit) to USD 8.4 (Rs. 524.20) in India is one of the
highest in the world.
This price rise will cost India a minimum of Rs 54500 crore p.a. and allow RIL to
make a future windfall profit of Rs 1.2 lakhs crore.
Due to this rates of transportation, power production, fertilisers and food items
will also rise
The gas prices should determined based on cost if production and not
international rates
"For every one dollar increase in price of the gas there will be an extra cost of
over Rs 10,000 crore on subsidy given to fertilizer companies,"
10. Higher price = higher investment in untapped hydrocarbon frontiers
Higher investment = higher output of domestic natural gas
Higher output = reduction /elimination of India’s import dependence on
costlier LNG(liquefied natural gas )
Elimination of India’s import = improving the country’s fiscal stability and
energy security
The Core Argument by Govt.
12. If successful bidders find any oil or gas, they first get enough 'cost oil' to
recover their costs, then they get 'profit oil' that is a multiple of costs, and
then 'residual oil'.
"For every one dollar increase in price of the gas there will be an extra cost
of over Rs 10,000 crore on subsidy given to fertilizer companies,"