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MoPNG- Annual Plan 2013-14

The Plan outlay for 2013-14 of the Ministry of Petroleum & Natural Gas is INR 79,052.16 crore. The Plan Outlay consists of INR 43,00 crore by way of budgetary support and INR 79009.16 crore of investment by PSUs through their internal and extra budgetary resources. The budgetary support includes INR 41.00 crore for Rajiv Gandhi Institute of Petroleum Technology (RGIPT) at Jais, Rae Bareilly, Uttar Pradesh with INR 1.00 crore for scheme on LPG connections to BPL families and another INR 1.00 crore for strategic storage programme for storage of Crude Oil. However, it has since been decided that the scheme on LPG Connections to BPL Families would not be taken from the GBS and funds would be provided from CSR funds of PSUs in the PNG Sector.

Projects implemented under P&NG Sector

During 2013-14, 14 Infrastructure projects costing INR 150 crore and above have been completed and another 85 projects are being implemented at present. As per schedule, out of 85 projects 6 projects will be completed till December, 2013 and 26 projects will be completed by March, 2014 Ministry of Petroleum & Natural Gas has taken several effective measures for fast tracking of PNG sector projects. In order to facilitate expeditious clearances, the projects are also taken up in the Project Monitoring Group (PMG), Cabinet Secretariat. As of now, 42 petroleum & NG sector projects in refinery, pipelines, LNG terminal projects etc. involving an investment of INR 2,38,306 crore have been taken up in PMG.

 

Foreign Direct Investment (FDI) Policy for PNG Sector

In order to attract foreign direct investment in the sector, the FDI policy has been further liberalised in refining. The present Foreign Direct Investment (FDI) policy for the Petroleum and Natural Gas Sector is issued by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry. The Policy is as follows:

  Item

% of FDI Cap/Equity

Entry Route

Exploration activities of oil and natural gas fields, infrastructure related to marketing of petroleum products and natural gas, marketing of natural gas and petroleum products, petroleum product pipelines, natural gas/pipelines, LNG Regasification infrastructure, market study and formulation and petroleum refining in private sector, subject to the existing sectoral policy and regulatory framework in the oil marketing sector and the policy of the Government on private participation in exploration of oil and the discovered fields of natural oil companies.

100%

Automatic

Petroleum refining by the Public Sector Undertaking (PSU), without any disinvestment or dilution of domestic equity in the existing PSUs.

49%

Automatic

Source:SNP Infra Research