GOVERNMENT OF INDIA

MINISTRY OF PETROLEUM AND NATURAL GAS

LOK SABHA

UNSTARRED QUESTION NO: 2466

ANSWERED ON:08.12.2014 

CRUDE OIL PRODUCTION

ANANT KUMAR DATTATREYA HEGDE

(a) the details of crude oil produced by various public/private sector oil marketing companies in KG D 6 in the country during the last three years, company-wise;

(b) whether the Government has fixed the selling prices of crude oil which has produced by the private/public producers in various oil wells/fields;

(c) if so, the formula fixed by the Government to determine the selling prices of domestically produced crude oil in the country;; and

(d) the details of the subsidy being provided by the Government to State run refineries/ private refineries in selling crude oil to them?

Will the Minister of PETROLEUM AND NATURAL GASbe pleased to state:- 

 MINISTER OF STATE IN THE MINISTRY OF PETROLEUM &

NATURAL GAS (I/C)

(SHRI DHARMENDRA PRADHAN)

 (a) Reliance Industries Limited is the operator of the KG D6 block. The details of crude oil produced in KG-D6 during the last three years (2011-12 to 2013-14) and the current year (2014- 15), is as under:

(b) & (c) The price of crude oil produced is fixed between buyers and sellers and is benchmarked to prices of a basket of international crude oil prices.

(d) The under-recoveries incurred by the Public Sector Oil marketing Companies (OMCs) on sale of regulated petroleum products, are compensated by the Government through budgetary assistance to the OMCs and by the upstream companies through discount on crude oil sold to the OMCs. The details of under-recovery and subsidy provided by Government during last 3 years and current year is given below: