Reforms in Production sharing contracts to monetize discoveries; 15000 km gas pipeline identified to complete National Gas Grid
1. Reforms in Production Sharing Contracts (PSCs) undertaken to monetize discoveries and improve investment climate.
2. Project for reassessment of hydrocarbon reserves is under implementation.
3. Project to appraise 1.6 million sq. km area of Indian sedimentary basin approved at a cost of Rs 6800 crore.
4. Pricing formula for domestically produced natural gas revised balancing the interest of the consumers and expectations of the investors. The new gas price is expected to result in an additional annual revenue of Rs 3800 crores for Government on account of higher royalty, profit petroleum and taxes.
5. Special dispensation for North East Region: For incentivizing exploration and production in North East Region, 40% subsidy on gas price has been extended to private companies operating in the region, along with ONGC and OIL. Exploration efforts in Tripura to be doubled. OTPC phase II gas based power plant at Paltana, Tripura dedicated to the nation by Hon. Prime Minister on 1 December 14.
Midstream Sector
6. In addition to the existing 15000 km gas pipeline, another 15000 km gas pipeline identified to complete National Gas Grid. Decision to commence survey of Jagdishpur-Haldia gas pipeline.
7. Retail consumers given priority in gas allocation, for CNG(Transport) and PNG(domestic) segments. GAIL directed to divert gas from non-priority sectors to meet 100% requirement.
8. Focus on substantially enhancing piped natural gas coverage for domestic households in a mission mode.
9. R-LNG terminals: Considering the wide gap between demand and domestic supply of natural gas, new R-LNG terminals have been approved to substantially increase the re-gasification capacity
10. Implementation of New polypropylene plant project in Petro Chemical Complex, Paradip, Orissa at a cost of Rs 3150 crore.
Downstream Sector
11. Price of diesel deregulated for all consumers on 19th October 2014. Expected to result in greater competition and improved service to benefit consumers. Since July 2014, price of Petrol has been reduced 8 times by a total of Rs 12.27. The price of diesel has gone down by Rs 11.15 from its desired selling price in July.
12. PAHAL - Direct Benefit Transfer for LPG consumer (DBTL) scheme launched in 54 districts on 15 November 2014. Will be expanded to rest of the country on 1 January 2015. Will cover 15.3 crore active LPG consumers of the country. It will be the biggest direct cash transfer scheme in the world. The Scheme aims to plug leakage in LPG subsidy due to diversion of subsidized LPG in commercial sector.
13. “Free Trade LPG scheme” having smaller 5 kg cylinders launched across the country and expanded in 100 additional locations across Delhi to cater to the LPG requirement for all sections of the society including economically weaker families, students, migrant labour etc.
14. Scheme for all poor households below poverty line including in urban areas approved. Under this scheme, security deposit of 14.2 KG LPG connection and cost of pressure regulator amounting to Rs 1600 is borne by Oil Marketing Companies.
15. 24 x 7 LPG service via Web launched to provide LPG consumers an integrated solution to carry out all services at one place, through MyLPG.in, from the comfort of their home.
16. 35,668 locations advertised for setting of new Retail Outlets. Over 7000 locations advertised for setting of new LPG distributorships. Reservation of 27% for OBC implemented for the first time.
Projects
17. 14 major projects worth Rs 40,659 crore, including 8 projects in upstream oil and gas sector, completed during this year.Another 21 projects worth Rs 59,976 crore expected to be completed by 31 March 2015.
Swachh Bharat
18. PSUs to construct 6000 toilets in schools. Drive to provide clean toilets at Retail Outlets. Cleanliness activities, projects and awareness campaigns by all oil & gas PSUs.
Make In India
19. GAIL has decided that out of 9 newly built LNG ships that are to be chartered by GAIL in the next five years, 3 ships have to be built in Indian shipyards.
20. Preferential Market Access: ONGC has already aligned their procurement processes to provide preference to domestically manufactured electronic products in Government procurement. IOC will be doing the same shortly.
Conservation:
21. Scholarships for studies up to graduation level and awards including study tours in other countries for students introduced to promote conservation.
22. 2140 Retail Outlets has been solarized Solarization of 6900 ROs has been planned over the next three years.
23. Procurement of ethanol at fixed price across India approved. This is expected to increase ethanol blending by simplifying the procurement process. Permissible base of ethanol supply also has been expanded for increased availability.
24. Star rating for LPG stoves and Diesel pump sets launched to encourage more efficient equipment and reduce consumption of petroleum products.
International Cooperation
25. To strengthen the country`s energy security, oil diplomacy initiatives have been intensified through meaningful engagements with hydrocarbon rich countries.
