Dharmendra Pradhan

Over 9.35 crore consumers sign up for LPG cash-subsidy scheme

Over 9.35 crore consumers sign up for LPG cash-subsidy schemeNew Delhi : More than 64 percent of 15.3 crore LPG consumers in the country have joined the ambitious PAHAL scheme to receive cash subsidy in their bank accounts so they can buy the cooking gas at market price.

"Over 9.35 crore LPG consumers have joined the scheme so far," Oil Minister Dharmendra Pradhan told reporters here.

Consumers joining the scheme, which was launched all over the country from January 1, has swelled from 24 per cent to 64 percent, making it the world's largest direct cash transfer scheme.

Oil companies hold 35 paisa cut in diesel, 55 paise hike in petrol

OilNew Delhi: Diesel prices, for the first time in over 5 years, should have been cut by 35 paisa on falling global rates but oil companies have decided to hold on to the rates pending a government decision on deregulation.

Under-recovery or the difference between retail price and its imported cost on diesel was 8 paisa per litre in the first half of September. The under-recovery in the second half has turned into over-recovery or profit of 35 paisa per litre.

"Naturally, when there is an over-recovery or profit, rates should have been cut but oil companies are holding the price line as they await a clear decision from the government on diesel price deregulation," an official said.

Energy firms warn against cost-plus pricing for gas

Energy firms warn against cost-plus pricing for gasNew Delhi - Ahead of a panel of secretaries beginning work on a new gas pricing mechanism, an association of top energy firms has warned that going back to cost-plus pricing will be a retrograde step that will lead to rewarding inefficiencies.

The Association of Oil and Gas Operators, which is made up for over two-dozen members including the likes of Reliance Industries, ONGC, Cairn, BP, BG, BHP and Essar, on August 18 wrote to Oil Minister Dharmendra Pradhan listing out pricing challenges and how a market driven pricing will boost output.

Petrol price slashed: City wise rates

Petrol priceNew Delhi: Petrol price will be cut by Rs 1.89-2.38 per litre from August 15, the second reduction in rates in a month and the steepest in 11 months.

Petrol price, which were last cut by 90 paise (Rs 1.09 a litre after including local sales tax) on August 1, will be further reduced by Rs 1.81 per litre.

After including local sales tax or VAT, the reduction in Delhi comes to Rs 2.18 per litre. Petrol from August 15 here will cost Rs 70.33 a litre as compared to Rs 72.51 currently.

Following are the revised prices of petrol in four metros after oil firms cut rates with effect from midnight of August 14/15:

Petrol prices to be slashed

PetrolNew Delhi, Aug 13 : Petrol prices will be slashed in the country from Rs 1.89 to Rs 2.38 per litre, as per the state.

Petroleum Minister Dharmendra Pradhan has confirmed that for the second time in August, petrol prices will be reduced in the country. The change will take effect on 14 August midnight.

Petrol prices will reduce in Delhi by Rs 2.18 to stand at Rs 70.33 per litre. (ANI)

New natural gas pricing formula by Sept 30: Govt

Gas pipde lineNew Delhi: Government on Wednesday said it will come out with a new natural gas pricing formula by September 30 keeping in mind the interest of investors and public.

Replying to questions in Rajya Sabha, Oil Minister Dharmendra Pradhan said the NDA government decided to review the pricing formula keeping in mind public interest and recommendations of the Parliamentary Standing Committee.

The Minister did not share details, but said the decision will be taken keeping in mind interest of investors and public and the formula will be announced by September 30.

Fertiliser Ministry seeks higher gas supply, takes up revival of 5 plants

Fertiliser Ministry seeks higher gas supply, takes up revival of 5 plantsNew Delhi: The Fertilzers Ministry has asked the Petroleum Ministry to increase the supply of gas for urea manufacturing plants and also explore the possibility of gas pipeline from Phulpur to Haldia as it can lead to revival of five closed plants.

Fertilizer Minister Ananth Kumar today held a meeting with Petroleum Minister Dharmendra Pradhan to discuss the number of issues including supply of gas to the urea plants, revival of urea plants and gas pipeline for supply of gas to three companies -- MCFL, MFL and SPIC.

Govt rules out any immediate hike in prices of LPG, kerosene

Govt rules out any immediate hike in prices of LPG, keroseneNew Delhi: Ruling out any immediate hike in prices of LPG and kerosene, Oil Minister Dharmendra Pradhan on Saturday said the new government will continue with the policy of subsidising commonly used cooking fuels.

"There will no increase in LPG and kerosene prices for now. We will continue with the extant pricing policy," he said here.

Besides continuing to subsidise LPG and kerosene, the NDA government will also not disrupt the previous UPA government's policy of up to 50 paise a litre increase in diesel price every month.

Second high level cabinet meeting on gas price today

Second high level cabinet meeting on gas price todayNew Delhi - The second high level cabinet meeting on gas prices is scheduled to be held on Tuesday. Principal Secretary Nripendra Misra will be chairing the meeting.

Earlier on Sunday, Prime Minister Narendra Modi held a high level meeting to take a decision on gas prices. Finance Minister Arun Jaitley and Oil Minister Dharmendra Pradhan, who met Modi on Sunday, were in the Prime Minister's Office again on Monday to discuss possible tweaks to the Rangarajan price formula, under which the price of gas would rise to USD 8.8 from July from USD 4.2 currently.

BP chief meets Oil Minister Pradhan on India projs, gas price

Bob-DudleyMoscow: With delays in regulatory nod and gas price revision frustrating its attempts to reverse falling gas output from KG-D6 field, BP chief executive Bob Dudley met Petroleum Minister Dharmendra Pradhan to press for early decisions.

Dudley, along with BP India head Sashi Mukundan, met Pradhan on the sidelines of the World Petroleum Congress on Tuesday to make a case for early decisions, officials said.

Gas price hike to balance reforms, interest of poor: Pradhan

Dharmendra-PradhanNew Delhi: As government mulls over the impending natural gas price hike, Oil Minister Dharmendra Pradhan on Tuesday said a right decision will be taken at the right time by balancing the urgency of reforms with the interest of the poor.

"We are examining all aspects of the issue. We are deeply into it. A right decision will be taken at the right time," he said.

Oil Minister proposes pro-poor approach on fuel, gas price hike

Oil Minister proposes pro-poor approach on fuel, gas price hikeNew Delhi, June 1 - Hinting at pro-poor approach in dealing with rise in fuel and gas prices, new Oil Minister Dharmendra Pradhan said that he would consult Finance and Law ministries before taking a call on price hike.

"That issue has many aspects, angles and questions. There are many departments associated with it. Law ministry and finance ministry are associated with it. We are analyzing the whole matter, we will talk to the top supporters in our government before we take the decision," he said.

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