New Delhi: Like any other sector of the economy, the year 2020 was a roller-coaster ride for the ministry of petroleum and natural gas as it gears up to meet the massive energy requirements of the second-most populous country on the earth. This year has been remarkable as the country was able to implement a cleaner auto fuel known as Bharat Stage VI across the country amid a nationwide lockdown.
BS-V6 standard auto fuel was made available throughout the country from April 1 this year, five days after Prime Minister Narendra Modi imposed a complete nationwide lockdown from the midnight of March 25 to slow down the community spread of the highly contagious novel coronavirus.
In the month of March, Prime Minister Narendra Modi also unveiled Rs 1.75 lakh crore PM Garib Kalyan Yojana (PMGKY) that sought to provide basic food, fuel and some disposable cash in the hands of the vast majority of the country’s poor people. The scheme covered nearly 80 crore people, two-third of the country’s population.
Under the PM Garib Kalyan scheme, the government provided over 14 crores free of cost LPG cylinders to over 7.5 crores Pradhan Mantri Ujjwala Yojana beneficiaries to ensure that lockdown does not result in the shortage of clean fuel for the poor people.
The Covid virus-induced lockdowns did not deter the ministry from going ahead with the award of 11 blocks having an area of nearly 20,000 square kilometres for oil and gas exploration under the fifth round of Open Acreage Licencing Policy (OALP).
Oil and gas companies also started the development of non-monetized discoveries in the current financial year despite the difficulties caused by the virus. A total of five new discoveries have been monetised this year, ONGC (3), Oil India Limited (1) and PSC (1).
Gas grid and India Gas Exchange
Despite the logistics difficulties caused by the outbreak of the pandemic, the country continued development of a robust gas grid in the country. Under the National Gas Grid, 1544 kilometres long pipelines were laid in the country during 2020.
Dedicated gas exchange for the trading of gas was also launched in the country in June this year. Indian Gas Exchange (IGX) will be a delivery-based trading platform for delivery of Natural Gas.
International Cooperation
As part of strengthening energy security, India added its long time strategic partner and ally Russia as a new source for crude oil imports on a term basis. Similarly, Angola was also added as a new source for supply of crude this year.
The governments also worked towards ensuring the country’s energy security by strengthening the strategic energy partnerships with the US, Russia, Saudi Arabia and UAE, and also strengthened energy corridors with neighbouring countries.
Energy Security
Taking advantage of low crude oil prices, the government filled all three Strategic Petroleum Reserves (SPRs) located at Visakhapatnam, Mangalore and Padur to the full capacity resulting in savings of about Rs 5000 crores.
Ethanol Blending
Under the Ethanol Blended Petrol (EBP) Programme, during Ethanol Supply Year (ESY) 2019-20, oil marketing companies procured 172.43 crore litre of Ethanol for blending purpose till November 30, 2020.
The government also revised the prices of ethanol to ensure remunerative prices to farmers. While the price of sugar-based ethanol has been raised by Rs 3.17 per litre, the price of B Heavy molasses was by Rs 3.34 per litre and the price of C-Heavy molasses was raised by Rs 1.94 per litre.
This year, the Government also allowed the production of ethanol from maize and surplus rice available with the Food Corporation of India.
ALSO READ: 'Education Policy completely missed out how to deal with COVID like situation in future'
