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Natural gas prices hiked 40 pc; CNG, PNG to cost more

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Prices for natural gas, which is used to generate electricity, make fertilizer and is converted to CNG to run cars, rose 40 percent to record highs on Friday, in line with the global consolidation of energy tariffs.

The fee paid for gas produced in old fields, which account for around two-thirds of all gas produced in the country, was raised to $8.57 per million British thermal units from the current $6.1, according to an order. of the Ministry of Petroleum. Petroleum Planning and Analysis Cell (PPAC).

Simultaneously, the price of gas from difficult and newer fields such as those of Reliance Industries Ltd and its partner bp plc operated in the deepwater block D6 in the KG basin, rose to $12.6 per mmBtu from $9.92, according to the order.

These are the highest rates for managed/regulated fields (such as ONGC’s Bassein field off the coast of Mumbai) and free-market areas (such as the KG Basin).

In addition, this will be the third increase in rates since April 2019 and is due to the consolidation of international reference prices.

The gas is an input to make fertilizers and generate electricity. It is also converted to CNG and piped into household kitchens for cooking. A sharp increase in prices is likely to be reflected in higher rates for CNG and piped natural gas (PNG), which in the past year have increased by more than 70 percent.

The government sets the price of gasoline every six months, on April 1 and October 1, each year based on the rates prevailing in gas-surplus nations like the US, Canada, and Russia in a year with a lag of a trimester.

Therefore, the price from October 1 to March 31 is based on the average price from July 2021 to June 2022. This is the period in which global rates skyrocketed.

With higher gasoline prices potentially boosting inflation, which has been stubbornly above the RBI’s comfort zone for the past eight months, the government has set up a committee to review the pricing formula.

The committee, under the leadership of former planning commission member Kirit S Parikh, has been asked to suggest a “fair price for the final consumer” by the end of September, but the report was delayed.

In 2014, the government used prices from countries with gas surpluses to arrive at a formula for locally produced gas.

Tariffs according to this formula were moderate and at times lower than the cost of production until March 2022, but increased considerably thereafter, reflecting the increase in global tariffs following the Russian invasion of Ukraine.

The price of gas from old fields, which are predominantly from state-owned producers such as ONGC and Oil India Ltd, has more than doubled to $6.1 per mmBtu since April 1.

Also, rates paid for gas from difficult fields like Reliance’s deepwater KG-D6 rose to $9.92 per mmBtu from April 1 from $6.13 per mmBtu.

The panel has been asked to recommend a fair price for end consumers and also to suggest a “reliable, transparent and market-oriented pricing regime for India’s long-term vision to ensure a gas-based economy”, according to an order from the Ministry of Petroleum.

The government wants to more than double natural gas’s share of the primary energy basket to 15 percent by 2030 from the current 6.7 percent.

The volume-weighted average of the prevailing price over a 12-month period for US-based Henry Hub, Canadian-based Alberta gas, UK-based NBP and Russian gas are used to set prices for the managed fields of ONGC and Oil India Ltd.

For difficult fields such as deepwater discoveries, ultradeepwater discoveries, and high-pressure, high-temperature areas, a slightly modified formula is used by incorporating the price of LNG, which also spiked in 2021.

The KG fields operated by Reliance-bp are classified as difficult fields.

The sources said that the increase in the price of gas is likely to result in an increase in CNG and cooking gas tariffs in cities such as Delhi and Mumbai.

It will also lead to an increase in the cost of generating electricity, but consumers may not feel any major problem as the proportion of energy produced from gas is very low.

Similarly, the cost of producing fertilizer will also rise, but as the government subsidizes crop nutrients, rates are unlikely to increase.

For producers, it will generate higher income.


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State News

Pakistani man’s rendition of ‘Mann Bharrya’ from Shershaah will bring tears to your eyes

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The 2021 blockbuster Shershaah, starring Sidharth Malhotra and Kiara Advani, will always be remembered for its incredible story based on the life of Captain Vikram Batra.

Produced by Dharma Productions, the film had become the most watched Indian film on Amazon. The film led the 67th Filmfare Awards with 19 nominations, including Best Actor and Best Actress, and won 7 awards.

The songs in the film, especially ‘Mann Bharrya’ by graceful singer B Praak and Darshan Rawal’s Kabhii Tumhe Yaad, were huge hits. The film was released during the pandemic and touched the hearts of millions of people.

Now, a Pakistani man has taken social media users back to the times of the 2021 pandemic with his rendition of the hit song ‘Mann Bharrya’. Netizens are getting excited after seeing the video which is now going viral on social media platforms.

The Pakistani man is an artist identified as Mudasir Aashi Khan. He shared the video of himself singing the song, but there’s a twist. Khan changed the lyrics and rewrote them in his own words.

Sharing on his Instagram, he captioned, “This song is originally sung by @bpraak. But these lines are also written by myself.”

In the video clip of a few seconds, we can see him sitting among some other people. He soon begins singing the song with his own lyrics and receives a round of applause from the listeners. Since being shared online, the video has received more than lakhs of views and counting.

Impressed by Khan’s singing skills, people also posted comments praising him.

One user wrote: “Well written, truly music has no borders… Support from India” while another wrote: “Your voice like fire. really feel it fire. LOVE from India.”

Another user wrote: “What a blessed voice, lots of love from India. Keep growing,” while another wrote: “Love and much respect to you brother. Much love from India.”

Similarly, one user wrote: “So much love and respect…your voice is so soulful…so pure…keep spreading magic.”


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State News

Birthday celebration goes wrong; 5 held for cutting cake with sword on Bhubaneswar street

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Commissioner’s Police arrested five youths, including a minor, on Monday on charges of cutting a cake with a sword while celebrating a birthday in Bhubaneswar street.

The police action came after an alleged video of the birthday celebration went viral on various social media platforms.

In the video, around 15-20 youngsters can be seen using a sword to cut a cake while celebrating a birthday in the middle of the road in the Nayapalli area.

All the people in the alleged video are said to be residents of the Nayapalli area, the sources reported.

Prior to this incident, a KBN (Koi Bhai Nahin) gang was in the news for a similar event last year. Several young members of the KBN group broadcast images of themselves brandishing swords and sharp objects on social media. The video was filmed in the streets of the state capital.


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Here’s what Sunny Leone thinks about Urfi Javed; KRK takes a stand for Uorfi

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Urfi Javed has been in the news for a couple of days after his ‘war of words’ with Indian author Chetan Bhagat. While various commoners, as well as celebrities, have commented on Uorfi and her strange fashion sense, now the attractive and beautiful Sunny Leone has shared her views on the fashionista.

Urfi sets the internet on fire with her weird but trendy outfits. While netizens don’t leave the opportunity to brutally troll her, there are several fans who come to support Urfi. There are even certain celebrities who have stepped in to defend and admire Urfi.

During an exclusive interview with Rohit Khilnani on Bollywood Hungama, Sunny shared her thoughts on Uorfi.

While answering the entertaining quick questions, when the host asked, “A Bollywood celebrity, whose fashion sense you feel, this person has surpassed it every time I open his Instagram.”

In response to this, Sunny said, “I would say Urfi.”

Later, the host said, “She (Urfi) will be very happy to see this.”

While Sunny crowned Urfi with the label of celebrity with the best fashion sense, analyst and controversial and self-proclaimed film actor, Kamaal Rashid Khan aka KRK lashed out at Sunny Leone while earlier defending Urfi and Nia Sharma .

Although KRK defended Urfi and Nia, at the same time, he criticized Sunny saying that it was Sunny who inspired these girls to wear such revealing clothes.

Earlier today, KRK tweeted: “Why are people criticizing #urfijaved #NiaSharma and other modern girls, when they allowed #SunnyLeone to stay in India to inspire all these girls? If you are considering a porn star (who also sells 2day porn movies) as a good girl, then don’t be hypocritical by criticizing Indian Girls.”


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