Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Government allows Reliance, others to sell gas to affiliates; marketing freedom to benefit ‘Cairn’, ‘Focus’

PTI
Updated: October 7th, 2020, 20:41 IST
in Business
0
Oil rigs

Photo courtesy: cnbc.com

Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: In a major boost to firms such as Reliance Industries, the government Wednesday allowed affiliate companies to buy gas produced from non-regulated fields as part of giving complete marketing freedom.

The government between 2016 and 2019 gave pricing freedom for all fields except those given to state-owned Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) on a nomination basis. But, there were restrictions on marketing including a ban on affiliates of producers buying the fuel and in some cases, a state nominee being mandated to offtake the gas. This restricted competition kept prices artificially low.

Also Read

RBI promotes internationalisation of rupee

1 day ago
RBI

RBI keeps interest rates unchanged amid uncertainty over Trump’s tariffs

1 day ago

The Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi, approved natural gas marketing reforms, Oil Minister Dharmendra Pradhan told reporters here.

There will be no change in the price of gas sold by ONGC and OIL from fields given to them on a nomination basis. The rate at USD 1.79 per million British thermal unit is half of the production cost. Pradhan said the CCEA approved a standard procedure for discovering the price of gas through a transparent and competitive e-bidding as also ‘permitting affiliates to participate in the bidding process for the sale of gas’.

Complete marketing freedom has been provided where production sharing contracts (PSCs) already provide for pricing freedom. This would benefit firms such as Vedanta-owned ‘Cairn’ and ‘Focus Energy’ who can now sell fuel to anyone and not necessarily to state-owned GAIL.

“This will add 40 million standard cubic metres per day of production from Krishna-Godavari basin and other areas to the current output of 84 mmscmd,” informed Pradhan. He said the ban on producers buying their own gas will continue to prevent manipulations. But, their affiliates can participate in the auction for the discovery of price and buying the gas, he said.

Last year, Reliance and its partner BP had bid out 5 mmscmd of new gas from their KG-D6 block to firms such as ‘Essar’ and ‘GSPC’.

Reliance and BP were keen to buy the gas but rules did not allow. Now, India Gas Solutions Pvt Ltd, an equal joint venture of Reliance and BP, will be allowed to bid and buy the gas.

“The objective of the policy is to prescribe a standard procedure to discover the market price of gas to be sold in the market by gas producers, through a transparent and competitive process,” the oil minister stated.

 

 

Tags: CairnDharmendra PradhanESSARgasministerReliance IndustriesVedanta
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

Advertisement

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Tabish Maaz

December 12, 2019
#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Diptiranjan Biswal

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

Rajashree Pravati Mohanty

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

D Rama Rao

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Lopali Pattnaik

December 12, 2019
#MyPaperBagChallenge

Bijswajit Pradhan

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Akriti Negi

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Arya Ayushman

December 12, 2019
#MyPaperBagChallenge

Amritansh Mishra

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019

Archives

Editorial

French Justice

ormer President Nicolas Sarkozy
October 1, 2025

At a time when many people across the globe holding high offices or having money power and political clout are...

Read moreDetails

U-Turn On Ukraine

Putin
September 30, 2025

During the past fortnight, European states have reported a spurt in incursions into their airspace, the latest such instance being...

Read moreDetails

Angry Ladakh

Ladakh
September 29, 2025

Bordered by China to the east and Pakistan to the west, Ladakh holds immense strategic value for India. Yet, more...

Read moreDetails

Diplomatic Drift

Rights & Restrictions: AAKAR PATEL
September 28, 2025

“God moves in mysterious ways his wonders to perform,” so goes a hymn I read in school. Or perhaps it...

Read moreDetails
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2025 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2025 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2025 All rights Reserved by OrissaPOST