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Dharmendra Pradhan

07 April, 2020, 09:33 AM IST

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DHARMENDRA PRADHAN

Dharmendra Pradhan speaks to US Energy Secretary on slump in fuel demand due to Covid-19

Since the outbreak of coronavirus, countries across the globe have placed restrictions and announced lockdowns, which have shut businesses and stopped both air as well as road travel. India too announced a 21-day lockdown from March 25 which has led to slump in fuel demand.

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  • In a written reply to a question in the Rajya Sabha, Pradhan said domestic subsidised LPG in Delhi was priced at Rs 538.95 per cylinder on October 1, 2019, and this month it costs Rs 574.50.

    Petroleum Minister Dharmendra Pradhan interacted with dozens of district nodal officers of Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) over video-conferencing to access the distribution of LPG cylinders in districts following the coronavirus outbreak and the subsequent 21-day nationwide lockdown

    Prices of natural gas, which is used to produce fertilizer, generate electricity and gets converted into CNG for use in automobiles and piped natural gas for household cooking, was from April 1 cut to USD 2.39 per million British thermal unit - a rate about 37 per cent lower than the cost of production. ONGC is India's largest integrated oil and gas company.

    ONGC was the top contributor with Rs 300 crore, followed by IOC chipping in Rs 225 crore. Privatisation-bound Bharat Petroleum Corp Ltd (BPCL) provided Rs 175 crore, while Hindustan Petroleum Corp Ltd (HPCL) chipped in Rs 120 crore.

    "This is not true that the price (of LPG) is constantly increasing. This month it was hiked due to the international market. However, there are indications that the prices may come down next month. During the winters, LPG consumption increases, which creates a pressure on the sector. This month, the price increased while next month it will reduce," he said.

    India may seek to reopen the pricing of its long-term LNG import contract with Qatar to reflect falling rates of the spot or current market, Oil Minister Dharmendra Pradhan said on Thursday.

    Brent prices crossed the $71-a-barrel mark early Wednesday morning after Iran launched a missile attack, but softened later in the day. Since last year, Brent prices have jumped nearly 15% and were trading around $68 a barrel. Over the past year, the increase in pump prices of diesel and petrol has been around 10%.

    "We have 27.5 crore LPG connections in the country. Of which, 8 crore connections have been done under Pradhan Mantri Ujjwala Yojana (PMUY)," Petroleum and Natural Gas Minister Dharmendra Pradhan said during Question Hour in Rajya Sabha.

    In 2019, India increased its intake of oil from the US to about 1,84,000 barrels per day, four times more than in 2018, and up from zero imports just four years ago. India’s energy imports from the US would reach $10 billion this year.

    Union Minister of Petroleum and Natural Gas, Dharmendra Pradhan said on January 11 that there is no dearth of crude oil in global market. "T...

    Union Petroleum Minister Dharmendra Pradhan spoke on Iran-US tensions and its after-effects on oil prices. He said, “India expects that ther...

    Government estimates suggest capacity addition in the steel hub would entail capital investments of over $70 billion and lead to an incremental Gross State Domestic Product of over $35 billion through steel alone, besides creating over 2.5 million jobs across the steel value chain in the region, an official statement from the steel ministry said.

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