Gas row: Reliance Industries slaps arbitration notice on government

May 11, 2014

Mumbai, May 11: Reliance Industries (RIL) and its partners BP and NIKO, the contractor group of the Krishna-Godavari basin (KG-D6) block, have slapped an arbitration notice on the government. They have sought the implementation of the domestic natural gas pricing guideline 2014 that was notified on January 10, 2014 – after the government approved the Rangarajan formula doubling gas prices to $8.4 per unit from April 1.

Despite RIL's insistence to put in place the gas price hike, the petroleum ministry indicated to the contractor that gas prices would only be announced for the second quarter. RIL said this has resulted in a loss to the contractor group and the government of Rs 300 crore a month.

While the ministry was to notify the new gas price for April-June quarter, the Election Commission on March 24 advised deferment of announcement till poll codes are lifted.

Reliance_IndustriesRIL's move may make things difficult for next government as they will be expected to soon tackle the issue of gas price hike. The matter may get more complex if the Lok Sabha elections throw up a fractured verdict.

The ministry's decision has forced RIL to keep selling gas at $4.2/mmbtu after April 1. RIL believes this is in contravention of the PSC and detrimental to the economic interests of the contractor group and the government.

Without any clarity, the companies said they are unable to sanction planned investments of close to $4 billion this year. In addition, this will also delay the ability of the companies to appraise and develop other significant discoveries made last year. Overall, they were planning to invest $8-10 billion in the next few years to significantly increase production from the KG-D6 block.

This domestic production is essential for not only meeting India's energy needs but also helping conserve foreign exchange which is required for imports of natural gas into India.

The RIL-led companies have also promised to work with the government to achieve a prompt and efficient resolution of the ongoing dispute.

Debashish Mishra of Deloitte told dna, "Any new gas production in the country is possible only at certain point price and $4.2 is not that price. Prices will have to be increased to promote exploration in country and price of $8.4 is certainly better than importing gas at $16-$18."

In a note to media, RIL has explained what forced RIL to file a notice of arbitration on the government. They believe that they were left with no other option.

"Having made a major discovery in 2013, we were getting ready to start investing in the development of discovered resources. We were upbeat over the opportunity to invest over $8-10 billion in development of discovered resources over the next 3-4 years. These investments could have significantly increased our production by 2019. This would also help the country avoid LNG imports of more than $75 billion," claimed RIL.

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Agencies
January 26,2020

Jaipur, Jan 26: Rajasthan on Saturday on Saturday became the third state in the country to pass a resolution urging the Centre to repeal the Citizenship Amendment Act (CAA).

he resolution was passed in the state Assembly amid opposition by the BJP which accused the ruling Congress of pursuing appeasement politics.

It is the second Congress-ruled state to pass such a resolution after Punjab. The Kerala Assembly too had passed such a resolution against the CAA moved jointly by the ruling Left Front alliance and the opposition Congress-led UDF.

The Rajasthan Assembly resolution, passed by voice vote, also asked the Centre to withdraw the new fields of information that have been sought for updation of the National Population Register (NPR) 2020.

"It is evident that the CAA violates the provisions of the Constitution. Therefore, the House resolves to urge upon the government of India to repeal the CAA to avoid any discrimination on the basis of religion in granting citizenship and to ensure equality before law for all religious groups of India," the state's parliamentary affairs minister Shanti Dhariwal said, moving the resolution.

Leader of the opposition Gulab Chand Kataria of the BJP questioned the state's right to challenge the Act.

"Granting citizenship is a matter for the Centre. In such a situation do we have the right to challenge the CAA? The Congress should stop doing appeasement and vote bank politics," he said.

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abdullah
 - 
Sunday, 26 Jan 2020

Salute to Rajasthan Govt for rejecting communal and black CAA bill.   This bill is agaisnt the teach of our Constitution and bjp has never done anything as per our constitutin.   Its trying its best to scrap the constitution and restore it with RSS agenda.    We should oppose any move by bjp against the value of constitution.   As bjp has no respect to our constitution, it has no right to be in power.    Many of bjp leaders are giving statemetns against the value of constitution and such leaders should be treated as anti indians and action be taken on them.   

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Agencies
January 25,2020

Thiruvananthapuram, Jan 25: Kerala Chief Minister Pinarayi Vijayan on Friday asked the state's MPs to take up the matter of deaths of eight Keralites at a resort in Nepal early this week, with the Centre to pursue the matter with the neighbouring country's government.

He was speaking to the MPs at the customary meeting that the Chief Minister has with all MPs ahead of every session of the parliament.

"The demand has come from the families of the victims for a fair probe on what happened and adequate compensation. For this, you (MPs) should take it up with the Centre. A probe has to be done by the Nepal authorities and the Centre should pursue this with them," Pinarayi reportedly stated. 

"We (the state government) have already taken the issue with the Centre and will now send a detailed letter on the need for a fair probe by the Nepal authorities," he added.

The eight dead include Praveen Krishnan Nair, who worked in the UAE and was on a short vacation here, when the tragedy struck the family. His wife Saranya, a second year M.Pharma student, and their three children, were also killed.

On Friday morning, it was a goodbye that Thiruvananthapuram has perhaps not seen before, as hundreds of people, many of them strangers, came to pay last respects to the five members of the Nair family.

The family of Praveen Nair decided to bury the bodies of the three children and cremate the bodies of Praveen and Saranya. It was also decided to bury the ashes of the couple alongside their three children in the compound of their house.

The second family hailed from Kozhikode and the bodies of Ranjith, an IT professional, his wife, who works in a cooperative bank and their younger child, who slept in the same room as that of Praveen, arrived at the Kozhikode airport on Friday morning.

State Transport Minister A.K. Saseendran and many others were there to receive the bodies, which were first taken to Ranjith's new home that is almost complete.

From there it was taken to a hall for all to pay their last respects and then to the family home of Ranjith where the cremation took place.

Watching everything happening was Ranjith's elder son, seven-year-old Madhav, who escaped that night in Nepal as he was sleeping in another room.

Madhav had arrived from Delhi on Thursday and was unaware of the tragedy as he was busy moving around in a new bicycle, which his relatives had bought to keep him busy.

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News Network
April 11,2020

New Delhi, Apr 11: With 40 deaths and 1,035 new COVID-19 cases in the last 24 hours, India on Saturday witnessed a sharpest ever increase in coronavirus cases, taking the tally of the infected people in the country to 7,447, as per the Ministry of Health and Family Welfare on Saturday.

According to the official data, among 7447 COVID-19 positive cases, 6,565 are active cases and 643 are cured, discharged and migrated and 239 patients who have succumbed to the virus.

Maharashtra has reported the highest number of cases in the country which stands at 1,574, including 188 cured and discharged and 110 deaths, followed by Tamil Nadu with 911 corona positive cases.

On the other hand, the national capital has reported 903 cases, which include 25 recovered cases and 13 deaths.

While 553 have detected positive for the infection in Rajasthan, Telangana has 473 corona cases and Chhattisgarh and Chandigarh have reported 18 cases each.

Uttar Pradesh and Haryana, that borders the national capital, has 431 and 177 cases, respectively.
Kerala, which reported India's first coronavirus case, has 364 confirmed cases.

The newly carved union territories -- Ladakh and Jammu and Kashmir--- have 15 and 207 cases, respectively.

The least number of COVID-19 cases have reported from the northeast region of the country. While Arunachal Pradesh, Mizoram, and Tripura have only 1 corona positive case, Assam has 29 people infected with the virus, which is the highest in the region.

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