The Rangarajan Committee’s proposal to double the domestic natural gas price will give major relief to ONGC, which has been hit by the policy of giving upstream firms a larger share of oil subsidie

The panel, headed by Prime Minister’s Economic Advisory Council Chairman C Rangarajan, was tasked to suggest design of future contracts for exploration and production of oil and gas

The Rangarajan committee is believed to have suggested a complex pricing formula that will lead to near-doubling of the natural gas price to about $8 (Rs 439). However, it is unclear if this will override the price discovery mechanism set out in current oil and gas contracts.

The power ministry has told an inter-ministerial panel that the proposed regulator for the coal sector should be equipped with adequate powers to decide upon the prices of the fuel to curb the “pro

The power ministry has told an inter-ministerial panel that the proposed regulator for the coal sector should be equipped with adequate powers to decide upon the prices of the fuel to curb the “profiteering” tendencies of coal companies. It should also be empowered to adjudicate disputes between coal producers and buyers.

Ahead of the next meeting of the Group of Ministers constituted to suggest the powers and functions of the proposed regulator, the ministry contended that while power purchase agreements are regulated by the concerned electricity regulatory commissions, coal companies are not.

The fertiliser ministry has opposed Reliance Industries' demand for hiking the KG-D6 gas price in line with the Asian LNG spot price, effective from April 2014. The ministry wants the price to be not more than $8/mmBtu.

RIL pitched for the gas price, post March 2014, to be about 10% below the spot price of LNG imported from Qatar — $12-13 at current rates. According to sources, during discussions with the government, the fertiliser ministry contended that such a price (on which consumers will have to pay an extra $1-1.5 to cover transporation charges and marketing margins) is not viable for the fertiliser industry whose output is highly subsidised, adding that any such move will cause a burden on the exchequer.

Meet this week to discuss proposal to increase 2013-14 wheat MSP by Rs 100

Riding high on NMDC stake sale garnering Rs 6,000 crore, the Cabinet is expected to discuss on Saturday a proposal to sell 12.5 per cent of its 92.5-per cent stake in state-run Rashtriya Chemicals and Fertilizers Ltd (RCF). Officials said the Cabinet is also expected to discuss a proposal from the agriculture ministry to raise the minimum support price (MSP) of wheat for the 2013-14 crop marketing season, which starts from

Global demand continues to be driven by Asian economies. India will increase its influence in coal markets thanks to large reserves

Global coal demand will rise 2.6 per cent annually in the next six years and challenge oil as the top energy source, according to the International Energy Agency (IEA). Coal consumption will climb to 4.32 billion tonnes of oil equivalent by 2017, compared with about 4.4 billion for oil, the Paris-based agency said on Tuesday in its first Medium-Term Coal Market Report. Usage will rise in all regions except the US, where cheap natural gas has damped demand, the IEA said.

Ahead of the second meeting of a ministerial panel to give final shape to the Coal Regulatory Authority Bill on Tuesday, the coal ministry has proposed that coal producers can determine the price of the commodity. However, the proposed coal regulator should decide the methodology to fix prices to check abuse of monopoly by any coal producer, the ministry said.

The coal ministry has also rolled back a crucial proposal to give power of authorisation in grant of leases to the regulator.

The oil ministry may raise prices of diesel by . 1 a litre or that of cooking gas by .

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.