Public sector companies like ONGC, account for 2-thirds of all fuel production. Reliance accounts for roughly one-fifth of ONGC’s share (barely 10 per cent) of total fuel production. See right here –
Welcome to Ministry of Petroleum&Natural Gas . It is viciously wicked to say pricing is out to learn Reliance when the largest beneficiaries are GOVT. companies ( No sir, no I am not saying that Ambani shouldn’t be a vily insatiable fox ).

– Value change was really helpful by C. Rangarajan and his six member panel, appointed by the previous petroleum minister, Jaipal Reddy, who was strongly anti-Reliance and opposed gasoline price hike. To assert that a committee appointed by Jaipal was really tailor-made to assist Ambani is incredible.(Please be aware Jaipal Reddy has Sir’s ISO-9000 pure Arvind Kejriwal honesty certificate )

– Ex-RBI guv Dr C. Rangarajan’s additionally president of Indian Statistical Institute. His formula determined gas pricing. Does he know his stuff or not?

– I think this “Everyone’s a thief” thing must be applied to Dr. Rangarajan too. And file FIR towards him. (Game ? Mr. Kejriwal ? )

– Two GOVT. OWNED corporations ONGC and GSPC have also found offshore fuel. The ONGC has repeatedly demanded not less than $ 7/unit to make production Financial. GSPC has asked for as much as $13-14 /unit. ( Allow us to assume these are corrupt companies, and agents of Ambani going by the requirements set by Sir Sri AK ).

– India is at present importing large amounts at $12-14 /unit. The government has signed an settlement to import gasoline from Turkmenistan, utilizing a worth system that is anticipated to cross $12/unit. Cabinet clears signing of pact for purchasing gasoline from Turkmenistan

We import eighty percent of our crude oil, and round forty-50 % of our gas. The oil and gas imports are the principle motive inflicting a fiscal and present account deficit which has pushed the rupee down and made fuel and fertiliser even more costlier than they must be. Consistently wrong power pricing is the one most vital purpose for the UPA government’s fiscal bankruptcy – and the resultant two-year slowdown that exhibits no indicators of reversing.

– Many power stations in India are closed for want of Refinery gas. India’s gas imports have shot as much as Rs 28,000 crore.( at present importing enormous quantities at $12-14 /unit). The International Vitality Affiliation estimates that India’s fuel imports will rise 72 per cent by 2017.
Web page on petroleum.nic.in

– I noticed the program Truth Vs Hype about gas pricing and heard AAP’s argument. It was mentioned in this system that greatest markets to match fuel prices can be north American one and the typical prices of natural gas would be around $ four per mmbtu. I checked the web site of US Energy Data Administration – U.S. Vitality Information Administration (EIA) about the same . To my surprise I found the gasoline costs fairly volatile depending on market stress, weather , demand and speculation, various between four-eight dollars even within this week. The costs are market driven , and unstable like share costs. It may be as little as three.5 dollars or as high as 21 dollars as per data in the same web site. AAP totally ignores these info and gave gasoline pricing a political color with extreme left leaning tone crucifying RIL , and very subtly cast aspersions on other gamers in the controversy , which I really feel may be very unfair. (Alas ! I just lost my AAM AADMI status )

– It’s not as if that Mota Bhai CHOR Reliance was handed a properly where it might just put a pump and sell the fuel popping out. It had to discover, lose money, invest, create the infrastructure, after which get the fuel out. It has taken all of nine years up to now.( Will it not be truthful to account for the prices of oil exploration, and all of the related investments in production platforms, undersea installations, pipelines and so on. ?)

– As per the contract, as soon as costs are recovered, 85 p.c of the income earned go to the government – and this is OVER and ABOVE the royalties paid. So, some folks may argue the higher the worth fixed for Reliance fuel, the faster the profit turnaround where the government itself begins getting 85 percent of its revenue gas. (One sided contract, eh !?! )

– Last however not the least, at the time of bidding for the oil and gas blocks, the federal government promised market-primarily based pricing for all successful bidders. This promise has still not been fulfilled as now we have gotten into controlled pricing. So India’s title is foiled irrepairably, and high exploration firms now keep away from India. (Na Khata Na Bahi, Jo Kejriwal kahe wohi Sahin ).

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