The Chemicals industry in India is an important contributor to the Indian economy sustaining a variety of downstream industries such as textiles and pharmaceuticals. The Indian chemicals industry with a market size of USD 145 billion is the seventh largest producer of chemicals worldwide and the third largest producer in Asia after China and Japan.
The minister urges everyone to turn off vehicle engine at traffic signal; could save 2% of fuel translating to Rs 14000 cr.
In what came as a big relief for consumers of petrol and diesel and petrol pump owners, union minister of state (I/C) for Petroleum and Natural Gas, Dharmendra Pradhan said Monday. The All India Petroleum Dealers Association (AIPDA) on Sunday announced that it would not accept payments through credit and debit cards from Monday in protest the banks’ decision to levy additional charge of up to one per cent on such transactions
The volatility in oil prices can be witnessed from the fact that from levels of $26 a bbl in February, crude oil prices touched the highs of $55 in December, up 15% since OPEC decision on production cut.
After being insulated from an increase in the domestic fuel prices, the ongoing upsurge in global crude oil prices could spoil the party for Indian consumers of petrol and diesel. India imports 80% of its crude oil requirements and any upward movement in oil prices casts an impact on domestic prices of petrol and diesel.
The ministry of petroleum and natural gas has said that the target of 1.5 crore connections fixed for the current financial year for Pradhan Mantri Ujjwala Yojana (PMUY) has been achieved within a span of less than 8 months.
While a large number of important policies, activities, decisions and initiatives were undertaken by the Ministry of Petroleum & Natural Gas in last one year, what scored over every other initiative was empowerment of the rural women under the Pradhan Mantri Ujjwala Yojana program of the petroleum ministry where morethan 1.22 crore new LPG connections were released to BPL women.
As the year draws to a close, its time to check the promises versus delivery by the important economic ministries of the government.
Dharmendra Pradhan Launches Customer Awareness Campaigns To Educate Customers About Cashless Transactions At Pumps
With more than 4 Crore footfalls daily, Petroleum Sector will form the base for all success stories written on "Digital Payments" in future :Pradhan
Digital awareness campaigns to educate people about cashless transactions is clearly the flavour of the moment across the nation. Minister of State (I/C) for Petroleum & Natural Gas Dharmendra Pradhan too launched Customer Awareness Campaigns for digital transactions at petrol pumps, the recent ones being at the auto Care Centre, a flagship HPCL Retail Outlet at Niti Marg, New Delhi and also at BPCL Outlet at Moti Bagh, New Delhi.
OPEC’s Decision to cut oil production will not deter India’s plans to turn into a gas based economy : Pradhan
With LNG prices being linked to crude, the move by OPEC to cut production saw an increase in LNG to their highest level for 2016 in the Singapore market on December 2. This sparked fears that gas prices may face upward pressure as oil rises in the wake of the OPEC decision.
While as a consumer India will remain “watchful” of actions like the recent OPEC decision to cut production, the move by the oil cartel to reduce oil production will not deter the country’s plan to move towards its plan of becoming a gas based economy, oil minister Dharmendra Pradhan said on Tuesday.
Union minister of state for petroleum and natural gas Dharmendra Pradhan expressed commitment to the IEF Producer – Consumer dialogue and welcomed initiatives to ensure the Gas can make an optimal contribution to a healthy energy future through a rolling dialogue and also enhances Gas market transparency.
Moving to the level of 15% would mean that annual gas consumption would accelerate from about 50 BCM to above 200 BCM in future.
In order to meet its stated objective of becoming a gas based economy, India has set a target to raise the share of gas in its primary energy basket from at about 6.5% at present to more than double at 15%.