Home India Ministry of Petroleum and Natural Gas Post well head cost notification...
Date: 2021-10-21 Category: Extra Ordinary State: Union Government Country: India

Post well head cost notification

Issued by Ministry of Petroleum and Natural Gas · Exploration Division

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Executive Summary & Key Takeaways

Executive Summary: This notification, issued by the Ministry of Petroleum and Natural Gas, amends THE SCHEDULE of the Oilfields Regulation and Development Act of 1948. It revises the determination of the wellhead price of crude oil and casing head condensate for nominated blocks, effective from April 1, 2021. The amendment specifies deductions from the sale price for Oil and Natural Gas Corporation Limited and Oil India Limited. Key Points / Main Content: * **Amendment Context:** * Amends THE SCHEDULE to the Oilfields Regulation and Development Act, 1948. * **Wellhead Price Determination:** * Specifies deductions from the sale price of crude oil and casing head condensate to determine the wellhead price for nominated blocks. * **Deductions for Oil and Natural Gas Corporation Limited:** * Onshore: ₹3955 per metric tonne. * Offshore: ₹2226 per metric tonne. * **Deductions for Oil India Limited:** * ₹2828 per metric tonne. * **Effective Date:** * The changes in the computation of royalty are effective from April 1, 2021. Impact Analysis: Oil and Natural Gas Corporation Limited: * Impact: Revised deductions for onshore and offshore crude oil and casing head condensate will affect revenue calculations. * Action Required: Adjust accounting and pricing models to reflect the new deduction rates. Oil India Limited: * Impact: The revised deduction for crude oil and casing head condensate will affect revenue calculations. * Action Required: Adjust accounting and pricing models to reflect the new deduction rate. Central Government: * Impact: Implementation and monitoring of the revised deduction rates for royalty computation. * Action Required: Ensure accurate application of the amended schedule.

Key Entities Referenced

Ministry of Petroleum and Natural Gas: The ministry responsible for the notification. New Delhi: The city where the notification was issued. Oilfields Regulation and Development Act, 1948: The primary legislation being amended. Oil and Natural Gas Corporation Limited: A Public Sector Undertaking whose crude oil pricing is being addressed in the notification. Oil India Limited: A Public Sector Undertaking whose crude oil pricing is being addressed in the notification. Arvind Nath Jha: The Deputy Secretary who signed the notification. 1st April, 2021: The date from which the changes in the computation of royalty are proposed. THE SCHEDULE: The schedule to the Oilfields Regulation and Development Act, 1948, which is being amended by this notification.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 ससीी..जजीी..--डडीी..एएलल..--अअ..--2222110022002211--223300660033 xxxGIDHxxx CCGG--DDLL--EE--2222110022002211--223300660033 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण्ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 4031] नई दिल्ली, बहृ स्ट्प जतिार, अक्त बू र 21, 2021/ आज‍ि न 29, 1943 No. 4031] NEW DELHI, THURSDAY, OCTOBER 21, 2021/ ASVINA 29, 1943 परे ोजलयम और प्राकृजतक गसै मत्रं ालय अजधसचू ना नई दिल्ली, 20 अक् तूबर, 2021 का.आ. 4382(अ).—तेल क्षत्रे (जिजनयमन और जिकास) अजधजनयम, 1948 (1948 का 53) (इसके बाि इस े अजधजनयम कहा गया ह)ै की धारा 6ए की उप-धारा (4) द्वारा प्रित्त िजियों का प्रयोग करते हुए, केंद्रीय सरकार उि अजधजनयम की अनुसूची म ेंआग े संिोधन करन े के जलए एतद्द्वारा जनम्नजलजखत संिोधन करती ह,ै नामत :- तेल क्षत्रे (जिजनयमन और जिकास) अजधजनयम, 1948 की अनसु ूची म ें अनुसूची म ें (i) नोट 1 के खंड (1) के जलए जनम्नजलजखत परै ाग्राफ को प्रजतस्ट्थाजपत दकया िाएगा, नामत: :- “(1) नामांकन ब्लॉकों के जलए कच्चे तले और केससंग हडै कंडेनसेट के कूप िीर् ष मूल्य का जनधाषरण कच्चे तेल और केससंग हडै कंडेनसेट के जबक्री मूल्य स े जनम्नजलजखत कटौजतयां करके दकया िाएगा : (क) ऑयल और नेचरु ल गैस कारपोरेिन जलजमटेड के मामले म ें: i. अजभतट के जलए तीन हिार नौ सौ पचपन रुपए प्रजत मीट्ररक टन, और ii. अपतट के जलए िो हिार िो सौ छब्बीस रुपए प्रजत मीट्ररक टन 6054 GI/2021 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] (ख) ऑयल इंजडया जलजमटेड के मामले म,ें िो हिार आठ सौ अट्ठाईस रुपए प्रजत मीट्ररक टन” (ii) नोट 1 के खंड (2) म ें “1 अप्रलै , 2007” अंकों, अक्षरों, िब्ि को “1 अप्रैल, 2021” अंकों, अक्षरों स े प्रजतस्ट्थाजपत दकया िाएगा। [फा. सं. 11023/1/2020-ओएनिी-I 33879)] (ई- अरसिंि नाथ झा, उप सजचि व्याख्यात्मक ज्ञापन : प्रस्ट्ताि ह ै दक दिनांक 01 अप्रैल, 2021 स े रॉयल्टी के पट्ररकलन म ें पट्ररितषन दकए िाए ं और यह प्रमाजणत दकया िाता ह ै दक अनुसूची म ें संिोधन के माध्यम स े भूतलक्षी प्रभाि स े पट्ररितषन करन े पर कोई भी व्यजि प्रजतकूल रूप स े प्रभाजित नहीं हो रहा ह।ै नोट :- तेल क्षत्रे (जिजनयमन और जिकास) अजधजनयम, 1948 (1948 का 53) की अनुसूची को 1969 के अजधजनयम संख्या 39 द्वारा िाजमल दकया गया था और अजधसूचना संख्या सां.आ. 465, दिनांक 3 फरिरी, 1973, सां.आ. 219(अ), दिनांक 26 माच,ष 1981, सां.आ. 107(अ), दिनांक 18 फरिरी, 1991, सां.आ. 91(ई), दिनांक 5 फरिरी, 1993, सां.आ. 666(अ), दिनांक 12 जसतम्बर, 1994, सा. सां. जन. 814(अ), दिनांक 16 दिसम्बर, 2004, सा. सां. जन. 559(अ), दिनांक 20 अगस्ट्त, 2007, सा. सां. जन. 615(अ), दिनांक 28 अगस्ट्त, 2009, सां.आ. 173(ई), दिनांक 15 िनिरी, 2016, सां.आ. 367(अ), दिनांक 14 िनिरी, 2019 और सां.आ. 1597 (अ), दिनांक 11 अप्रैल, 2019 द्वारा संिोजधत दकया गया ह।ै MINISTRY OF PETROLEUM AND NATURAL GAS NOTIFICATION New Delhi, the 20th October, 2021 S.O. 4382(E).—In exercise of the powers conferred by sub –section (4) of section 6A of the Oilfields (Regulation and Development ) Act,1948 (53 of 1948) (referred to as “Act” hereinafter), the Central Government hereby makes the following amendments further to amend THE SCHEDULE to the said Act, namely:_ In THE SCHEDULE to the Oilfields (Regulation and Development) Act 1948 in THE SCHEDULE,- (i) for clause (1) in Note 1, the following paragraph shall be substituted namely: “ (1) The well head price of crude oil and casing head condensate for nominated blocks shall be determined by making the following deductions from the sale price of crude oil and casing head condensate : (a) in case of Oil and Natural Gas Corporation Limited: i. three thousand nine hundred and fifty – five rupees per metric tonne for Onshore., and ii. two thousand two hundred and twenty – six rupees per metric tonne for Offshore. (b) in case of Oil India Limited, two thousand eight hundred and twenty eight rupees per metric tonne.’’ (ii) in clause (2) of Note 1, for the figures, letters, word “1st April, 2007’’ the figures, letters, “1stApril, 2021” shall be substituted. [F. No. 11023/1/2020- ONG-I (E- 33879] ARVIND NATH JHA, Dy. Secy. Explanatory memorandum: It is proposed to effect the changes in the computation of royalty from 1st April, 2021 and it is certified that no person is being adversely affected by granting retrospective effect through the amendment of THE SCHEDULE.[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3 Note :- The Scheduled to the Oilfieds ( Regulation and Development) Act, 1948 (53 of 1948) was inserted vide Act No. 39 of 1969 and has been amended vide notification number S.O 465, dated 3rd February, 1973, S.O. 219(E), dated the 26th March, 1981, S.O. 107(E), dated 18th February, 1991, S.O 91(E), dated 5th February, 1993, S.O 666 (E), dated 12th September, 1994, G.S.R. 814 (E), dated 16th December, 2004 G.S.R. 559 (E) dated 20th August, 2007, G.S.R. 615(E), dated 28th August, 2009, S.O. 173(E) dated the 15th January, 2016, S.O. 367(E), dated the 14th January, 2019 and S.O 1597(E) dated 11th April 2019. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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