Quite a talk about the Petroleum prices recently. Many folks are giving credit to Modi for the Pterol/Disel price cut off. It is interesting to note that the Price reduction is due to the fact that Petroleum prices is all time low in International Market. It has come down to 87 $ Per barrel which is less in last 5 years. Many Countries including, USA, Russia, Canada and Asian countries have decreased the rates this year by 28% minimum. Modi Gov has actually decreased less in comparison to other Countries like Russia and USA. Another thing is folks are celebrating with the Modi Governments announcement to secure the NG pricing to 5.6$/ Unit. Now interesting fact is this is again a hike of 30% from 4.2$/Unit. I really do not understand the purpose of this hike pertaining to the fact that LPG and CNG are going to be hiked subsequently. Another thing is according to the new policy the Price reversion has to be taken place each 6 month. ..each 6 month?? which country has such policy to price revision of the Domestic NG gas production Cost.I am trying to search..looks like completely new clause. Whataver One more fact where folks doesnt seem to be concerned about - Modi Government has issued fine to Reliance about 1 Billion $ for loss incurred because of their intentional decreased production of NG to what was in agreement. They have been producing 1/8th of the actual NG production in paper resulting in the loss of 2 Billion $ so far since last 5 years. Similar Fine were also issued from the Congress Government but not a penny have been recovered so far. Interesting events happening these days..I am gonna wait and watch!!
Posted on: Tue, 21 Oct 2014 17:52:55 +0000
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