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Monthly Summary of Ministry of Petroleum and Natural Gas for the month of February 2021

advtanmoy 05/05/2022

Monthly Summary of Ministry of Petroleum and Natural Gas for the month of February 2021.

Mike Bullet

1. On 16th February 2021, Hon’ble Minister for Petroleum & Natural Gas addressed an
august gathering at the joint conference of the 11th World PetroCoal Congress & World Future
Fuel Summit 2021. Hon’ble Minister mentioned India’s consistent commitment for green energy
pathways, its energy appetite and commitment for energy justice and fuel mix of the future. He
also highlighted some of the key interventions of the Indian Government in providing access to
affordable & efficient energy, including 80 million LPG connections to women through
budgetary support, leapfrogging to BS-VI pan-India, $60 billion investment in strengthening gas
infrastructure.

2. On 17th February 2021, Hon’ble Minister for Petroleum & Natural Gas delivered the
inaugural address at the 11thIEA-IEF-OPEC Symposium held under the patronage of Minister of
Energy, Saudi Arabia, HRH Prince Abdulaziz bin Salman Al Saud. Heads of International
Energy Forum, International Energy Agency and OPEC Secretariat also joined the symposium.
Hon’ble Minister expressed India’s concern on rising crude oil prices globally leading to
demand contraction and further hurting the already fragile global economic recovery, he also
highlighted the need for collective interests of producing and developing countries to revive
consumption-led growth and appealed to all key producing countries, including OPEC and
OPEC Plus, to ease production cuts.

3. On 18thFebruary 2021, Hon’ble Minister for Petroleum & Natural Gas Shri Dharmendra
Pradhan along with Mr. Hans Jacob Frydenlund, theNorwegian Ambassador witnessed the
signing of ‘Statement of Intent’ between Indian Oil Corporation Limited and Greenstat
Hydrogen, Norway for setting up of a Centre-of-Excellence in India.

4. Secretary, PNG chaired a meeting on Mongolia refinery with Vice Minister of Mongolia
along with the scenario officials of MEA & EIL, the meeting was held on 2nd February 2021
through video conferencing. There was a discussion on the refinery project and exploring new
opportunities in oil & Gas sectors.

5. In the Month of February, more than 5.88 lakh new LPG connections were issued and total
number of LPG connections released in the FY 2020-21 are nearly 79.86 lakhs till
28th February, 2021. As on 1st March, 2021, 27.13 crore LPG consumers are availing subsidy
under PAHAL scheme Nearly 5 lakh customers have joined PAHAL scheme in the month of
February, 2021. Till date more than 1.08 crore customers have given up their LPG subsidy under
‘GiveItUp’ campaign.

6. The number of LoIs issued and distributorships commissioned in the month of February,
2021 are more than 10 and 44, respectively. Total number of LoIs issued and distributorships
commissioned from 1st April, 2020 to 28th February, 2021 are 132 and 398, respectively.

7. Domestic crude oil production for the month of February, 2021 was 2380 TMT as against
production target of 2494 TMT, showing an achievement of 95.43%. Natural gas production for
the month of February, 2021 was 2372 MMSCM as against production target of 2859 MMSCM,
showing an achievement of 82.97%.

8 During February, 2021, the price of the Indian Basket of Crude oil varied between $55.18
and $65.70 per barrel and the average price was $ 61.22 per barrel as compared to average price
of $ 54.79 per barrel in January, 2021.

9. As per the Refinery Gate Price (RGP), OMCs are expected to incur NIL under recovery
on sale of PDS Kerosene and subsidy (DBTL) amount of Rs. 63 crore on sale of domestic LPG
during the month of February 2021. The expected under recoveries/subsidy for the F.Y. 2020-21
in respect of PDS Kerosene and Domestic LPG (Under DBTL) is NIL and Rs 3,480 crore
respectively. There is no subsidy to the consumers on subsidized domestic LPG (at Delhi
market) effective from 1st January, 2021. There is NIL under recovery on PDS Kerosene
effective from 1st March, 2020.

10. During the period April, 2020 to Jan, 2021, OMCs have procured 0.49 crore litres of
biodiesel for blending with diesel. OMCs have floated fresh tender for procurement of biodiesel.
Bids received against the same are under evaluation at present.

11. OMCs have floated Expression of Interest (EoI) for procurement of Biodiesel produced
from UCO across 300 locations in the country. OMCs have received offiers for setting up 65
Biodiesel Plants with a production capacity of 1206 MT/day (Aprox. 45 Cr. Litres/annum). For
Ethanol Supply year (ESY) 2020-21 Oil Marketing Companies (OMCs) floated a tender for 458
crore litre against which 325.63 crore litre could be allocated as on 22.02.2021 enabling 6.82%
average blending percentage.

12. Gasoline Desulphurization (GDS) Unit under CPCL-fuel Quality up-gradation
project has been dedicated to the nation by Hon’ble Prime Minister through video
conferencing on 17.02.2021. INDMAX project at Bongaigaon Refinery of IOCL was dedicated
to nation on 22.02.2021. Propylene Derivatives Petrochemical Project (PDPP) at Kochi Refinery
of BPCL was dedicated to the nation by Hon’ble Prime Minister on 14.02.2021.

13. As on 28.02.2021 total 24701 Retail Outlets have been solarized.

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