The success of the direct benefit transfer for LPG (DBTL) scheme has resulted in savings to the tune of 14-15% in LPG subsidy alone, as a result of elimination of leakages, and de-duplication.
 8This translates into savings of around Rs 6,000 crore of the total Rs 40,000 crore LPG subsidy which is borne by the government.
 8As of now, more than 10 crore LPG consumers have joined the ambitious scheme of getting cash subsidy in bank accounts to buy market priced cooking fuel, making it the world's largest direct benefit transfer and helping end black marketing.
 8The Prime Minister, Narendra Modi, was informed about the current status of Aadhaar enrolment, and the direct transfer of benefits in various sectors at a high-level meeting held today (June 18, 2015).
 8The PM, after reviewing the scheme, called for accelerating the delivery of benefits, and expanding the applications of the Aadhaar (UID) platform so that its benefits can be extended to as many public services as possible.
 8Modi asked the concerned officers to examine the possibility of incentivizing states through a one-time sharing of a portion of the savings, as a result of the successful implementation of DBT schemes.
 8The Direct Benefit Transfer Scheme for LPG subsidy, now renamed PaHaL or Pratyaksha Hastaantarit Laabh, covers more than 65% of the 15.3 crore LPG consumers in the country.
 8Under the scheme -- which was launched on November 15, 2014, in 54 districts and in the rest of the country on January 1, 2015 -- LPG cylinders are sold at one price, that is, the market rate. Consumers get the subsidized amount in their bank accounts so they can buy LPG at market rate. Details

Focus Energy, the operator of the Rajasthan onland block RJ-ON/6, has lines up investment plans worth Rs 4,800 crore in the block to raise gas production from the SGL field.
8The operator plans to drill a total of 150 new wells in the block, along with setting up of a gas production facility (including one CO2 removal facility) having a capacity of 65 mmscf/d.
8As of now, there are only 17 drilled wells in the block, the gas from which is processed at the lone gas production and processing (including CO2 removal facility) unit.
8The company plans to set up one more gas production facility within the field to take care of the additional gas coming from the proposed 150 new wells.
8The cost of drilling 150 new wells, along with setting up of gas production and processing facilities, is estimated to come around Rs 4,800 crore.
8Two gas discoveries have already been made in the block, one of them in the SGL field. Accordingly, Mining Lease (ML) for the SGL Gas Field has been granted, having an area of 176 sq. km.
8Production of gas has already been started from July 2010, from the SGL Gas Field. The gas from the field is currently supplied to GAIL for onward supply to the Ramgarh Power Plant at Jaisalmer. Details

8Crude oil imports down by 41% during May 2015: Total imports during May 2015 were valued at $32,752.99 (Rs 2,08,965.06 crore). Of this, crude oil imports during the month were valued at $8,538.67 million which was 40.97% lower than oil imports valued at $14,464.88 million in the corresponding period last year. --Crude oil imports during the April-May 2015-16 period were valued at $15,981.59 million which was 41.76% lower than the oil imports of $27,442.71 million in the corresponding period last year.
 8GGCL Chairman Pandian resigns: Gujarat Gas Company Ltd (GGCL), chairman, D. J. Pandian, IAS, has resigned from his position.
 --Along with this, he has also resigned as the Director from the Board of Directors of the company.
 8WPI for `fuel and power` for May 2015: The wholesale price index (WPI) for the major group `fuel and power` -- for the month of May 2015 -- rose by 3.0% to 189.8 (provisional) from 184.2 (provisional) for the previous month due to higher price of furnace oil (12%), petrol (8%), high speed diesel (4%), bitumen (3%), electricity (agricultural) (2%) and electricity (railway traction), electricity (industry) and electricity (domestic) (1% each).
 --The website also carries, the built up inflation over the week, financial year-end and over the year for items like petrol, diesel and LPG. The inflation trend, during the last six weeks is also given for these items. Details

 Kazakhstan is willing to consider India`s proposal to explore the possibility of direct transportation of oil and gas from the Central Asian nation to India.
8The proposal was discussed during the 12th edition of the India-Kazakhstan Inter-Government Commission (IGC) on Trade, Economic, Scientific, Technological, Industrial and Cultural Cooperation held today (June 17, 2015).
8During the IGC meeting, both sides agreed to conduct a feasibility study on transportation of crude oil and gas from Kazakhstan to India via pipeline or as LNG.
8The opening of the rail link between Iran-Turkmenistan and Kazakhstan was also discussed during the meeting. Both sides decided to explore the possibility of the Kazakhstan-Iran route being developed as a linked corridor to the International North South Transport Corridor (INSTC).
8The total length of the Kazakhstan-Iran section will be more than 300 km.
8Once this link is completed, Kazakh crude can be imported to India through the Iranian port at Chabahar.
8The route through the Chabahar port is estimated to be 40% shorter and reduce cost of Indian trade by 30% as compared to the current Indian Ocean-European transport route via the Red Sea, Suez Canal and the Mediterranean. Details

After deciding to share the burden of cess and royalty in the pre-NELP block block CY-OS-90/1 (also known as PY-3) amongst partners -- Hardy, ONGC and Tata Petrodyne -- the operator of the block, Hardy (holding 18% stake), is now leaving no stone unturned so that production from the field can be re-commenced from 2016.
8Hardy claims that it has successfully facilitated a consensus amongst partners -- ONGC and Tata Petrodyne -- outlining a mutually equitable way forward on the Full Field Development Plan (FFDP) for the block which has been submitted to the DGH for its review.
8The FFDP has been okayed by the Operating Committee (OC) of the block but it is yet to be approved by the Management Committee (MC) of the block. --The budgets, along with the tenders for major contracts and long lead items, are also yet to be finalized.
8The FFDP envisages a resumption of production from one well at the rate of around 3,000 bbld and subsequently drill two new producers and undertake the workover of a third well. Production is estimated to peak around 8,000 bbld. The field was shut in July, 2011 due to lack of MC approval.
8The PY-3 field is located off the east coast of India 80 km south of Pondicherry in water depths between 40m and 450m. The Cauvery Basin was developed in the late Jurassic / early Cretaceous period and straddles the present-day east coast of India. The licence, which covers 81 sq km, produces high quality light crude oil (49° API). Details

Hardy, the operator of the block CY-OS/2, is not happy with the government's decision to appeal, against the tribunal award, in the High Court of Delhi (HC) which had negated the contentions and defence raised by the government (DGH) and declared the discovery made by the operator in the block as gas and not oil, as claimed by the government.
8The GOI appeal is primarily challenging the jurisdiction of the tribunal. Hardy has also filed an execution petition with the Delhi High Court. To date the High Court has listed the case eight times and, at the request of the GOI, adjourned the hearing on five occasions. The next hearing is scheduled to be called in July 2015.
8Hardy feels that the appeal "is in contravention of the Production Sharing Contract (PSC) which states the arbitration process is final and binding on all Parties, and inconsistent with the latest Supreme Court precedent that such international awards are not appealable under India laws."
8Readers will recall that in March 2009, Hardy was informed by the government that the block CY-OS/2, in which it holds a 75% stake, was relinquished as it had failed to declare commerciality of the block within two years from the date of the discovery which is applicable for an oil discovery. Hardy disputed this ruling believing that the discovery was a gas discovery and consequently it was entitled to a period of five years from the date of discovery to declare the commerciality. As no agreement was reached the dispute was referred to arbitration under the terms of the PSC.
8The arbitrators, on February 2, 2013, ruled that the discovery was a gas discovery and consequently the order for relinquishment of the block was illegal. The arbitrators ordered the government to restore the block to Hardy and to allow it a period of three years to complete the appraisal programme.
8Later, on August 2, 2013, the government filed an appeal, against the arbitration award, with the High Court of Delhi. Hardy, subsequently, filed an execution petition before the High Court Delhi.
8Hardy is the operator of the exploration block and holds a 75% participating interest. GAIL owns the remaining 25% stake. The block is located in the northern part of the Cauvery Basin immediately offshore from Pondicherry, India and covers approximately 859 sq km. Details

India’s import requirements will grow rapidly, with imports accounting for almost 90% of its total oil demand by 2035, according to oil and gas major BP.
 8The company is of the view that regional trade imbalances will increase and become more concentrated in the years to come. Asia’s imports, in particular, will account for nearly 80% of inter-regional net imports of oil by 2035, up from around 60% today.
 8The Middle East’s share of inter-regional net exports is expected to falls from 55% in 2013 to a touch below 50% by 2035. North America will become a net oil exporter over the next few years.
 8In the US, the increase in tight oil production, coupled with declining demand, will transform its reliance on oil imports. Having imported well over 12 Mb/d -- 60% of its total demand -- in 2005, US is set to become self-sufficient by the 2030s.
 8China and India, the key drivers of non-OECD growth, are projected to grow by 5.5% per annum between 2013 and 2035. By 2035, they will be the world’s largest and 3rd largest economies respectively, jointly accounting for about one-third of global population and GDP.
 8Consequently, China will surpass the US as the largest consumer of liquid fuels by 2035, feels BP.
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