ONGC's crude production to marginally rise in 2011-12
09 Mar 2010
Crude production by state-run oil explorer Oil and Natural Gas Corporation (ONGC) is expected to increase marginally to 26.582 million tonnes in 2011-12 from around 25.425 million tonnes in 2010-11.
ONGC has approved plan outlay of Rs24,720.21 crore for 2009-10 and Rs26,523.02 crore for 2010-2011 for exploration, production and allied activities, including modernisation, minister of state for petroleum and natural gas Jitin Prasada informed the Rajya Sabha in a written reply today.
ONGC is also undertaking a modernisation plan that includes replacement and revamping of old structures, pipelines, facilities etc, which are primarily meant for maintaining the facilities for processing of crude oil and natural gas. These are in compliance to statutory requirements with no direct relation to production improvement, he said.
He also said that exploration and production operations are continuous process and different field development programmes and facility upgradation are planned in different phases for hydrocarbon production and suitable facility optimisation as and when warranted.
The government, meanwhile, has realised revenues of Rs3,421 crore and Rs10,280 crore on petrol and diesel, respectively, under the central road fund (CRF) during the year 2009-10 (up to January 2010), the minister informed the House. An additional excise duty of Rs2 per litre of petrol and diesel is levied at the instance of the ministry of road transport and highways at present, he added.
The collection on this account is credited to the Consolidated Fund of India and thereafter, Parliament, by appropriation, credits such proceeds after adjusting cost of collection to the CRF.
The CRF is, thereafter, distributed by the Planning Commission amongst three ministries of rural development, railways and road transport and highways as per provisions of the Central Road Fund Act, 2000, he added.
The finance ministry does not propose to withdraw the above additional duties on petrol and diesel, for the time being, Prasada further added.
