Reliance may win gas price hike with guarantees

November 27, 2013

MoilyMumbai, Nov 27: Reliance Industries may be allowed to hike rates for its gas from April after it offered financial guarantees to the government to settle any claims against it over a shortfall in its gas output, the petroleum minister said.

In June, India approved a move to higher, market-related rates for locally-produced gas from April 2014, but the finance ministry later said prices for Reliance should be capped because the company's gas production from the offshore D6 block was far below its supply commitment.

Reliance, which operates the D6 block off India's eastern coast, has reported a sharp decline in gas output since 2010. Reliance and partner BP have cited geological complexities for the fall in output, but the oil regulator believes they failed to drill enough wells.

Falling output had already prompted the government to disallow proportionate cost recovery to Reliance, leading to arbitration proceedings over the issue.

"They have come forward with the proposal for bank guarantees. There are some arbitration proceedings pending. Till that is settled, they will submit bank guarantees," Petroleum Minister Veerappa Moily told reporters at an industry event on Tuesday in Mumbai.

Gas from D6 was earmarked for strategic domestic industries including fertiliser production, cooking gas and power, but has fallen so much that only some fertiliser plants now get supplies from the offshore block.

"We will put up a Cabinet note in 10-15 days. Our ministry is concerned because we are keen to close the issue," he added.

A spokesman for Reliance, controlled by India's richest man, Mukesh Ambani, declined to comment on the matter.

The minister did not disclose the amount of guarantees, although media reports have earlier estimated them at $135 million per quarter.

India, which imports nearly 80 per cent of its oil and a quarter of its gas requirement, hopes to launch a new round of auctions for oil and gas blocks by mid-January, Moily said.

No going back on gas price hikes: Moily

Mumbai: Oil Minister M Veerappa Moily has ruled out reversal of the decision to double natural gas prices from April 1 next year and said that the notification on this will be issued shortly.

"Absolutely, there is no question of reversing the decision to hike natural gas prices, as proposed by the Rangarajan panel report, or going back on the decision," Moily told reporters.

"The notification regarding the implementation of the new price formula will be issued shortly," he said here, a day after meeting investors, bankers and analysts ahead of the forthcoming NELP round X auctions from mid-January.

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Agencies
January 4,2020

Kota, Jan 4: Following the death of an infant in the morning, the death toll in JK Lon Hospital here has risen to 107, officials said on Saturday.

A three-member state government committee of doctors, who was sent to investigate the matter on December 23 and 24, found that Kota's JK Lone Hospital is short of beds and it requires improvement.

However, the committee gave a clean chit to the doctors for any lapses over the recent death of infants admitted there.

A Central government team reached the hospital on Saturday to take stock of the situation.

As per the government report, at least 91 infants lost their lives at the government hospital in December last year.

Meanwhile, the National Human Rights Commission (NHRC) has issued a notice to Chief Secretary of Rajasthan to submit a detailed report within 4 weeks about the steps being taken to address the issue.

The Commission also asked the Chief Secretary to ensure that such deaths of the children do not recur in future due to lack of infrastructure and health facilities at the hospitals.

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News Network
March 31,2020

Thiruvananthapuram, Mar 31: Kerala Chief

Minister Pinarayi Vijayan on Tuesday said the government has collected the details of those who took part from the state in recent religious congregations in Nizamuddin and Malaysia and it needs to be examined if they have any health issues.

"Police have already made detailed examination in this regard. Thelist of participants have been given through respectivedistrictcollectors. Necessary precautions will be made in the concerned districts in this regard," Vijayan told reporters here.

The government has the exact number of participants and thedetails of the districts they are hailing from, he said.

Meanwhile, Pathananthitta police said they have identified 6 persons in the district in connection with the Nizamuddin congregation.

"Three persons had taken part in the congregation, of them one hadalready died. One person is in quarantine in the district while theother is located now in Thiruvananrhapuram," a senior police officialtold PTI.

The others are not participants but had travelled to Delhi along with them, he said.

In the nearby Alappuzha district, three persons have been identified in connection with the congregation, police said.

"They have been in quarantine and under the surveillance of thehealth department since they have reached back the state from Delhi," another official said.

Several people, who had attended the religious congregation at Nizamuddin in the national capital are suspected to be having symptoms of Covid19, even as at least 24 have tested positive.

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Agencies
June 8,2020

Idukki, Jun 8: Devikulam MLA S Rajendran from CPM along with supporters staged a protest by blocking the Munnar-Udumalpet interstate highway here on Monday, demanding that action to be taken to prevent wild elephants entering into human settlements and destroying properties.

The protest started at 9.30 am and demand was made that senior forest officials should give them assurance of putting an end to the problem.

A police team led by Munnar Deputy Superintendent of Police (SP) Ramesh Kumar was camping in the area.

Wild elephants from the nearby forest are frequently trespassing into Munnar and last night two elephants destroyed a vegetable shop in the town.

If it was a lone elephant that the locals nicknamed as Padayappa that used to enter the human settlement, now along with him a baby elephant is also coming to the town at night.

The locals have named the second elephant Ganeshan. Though there were instances of them destroying crops and eating from vegetable shops, till now the duo has not attacked humans.

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