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Recommendations

Recommendations on Policy Issues

  1. Submitted to Secretary, MoP&NG on Proposed ban on the use Furnace Oil (FO) and Petroleum Coke (PETCOKE) in NCR – Views of Downstream Segment of Indian Petroleum Industries in July 2016

  1. Submitted to Secretary, MoP&NG and Revenue Secretary, MoF in February, 2016 and September, 2015 for reduction in OID Cess on Crude Oil produced in India in view of falling crude oil prices and levying it on ad-valorem basis.
  1. Submitted to Secretary, MoP&NG in January 25, 2016 expressing apprehension on re-introduction of Customs duty on crude oil
  1. Submitted to MoP&NG to ramp up CBM Production in the country in January 08, 2016.
  1. Submitted to Secretary, MoP&NG and Revenue Secretary, MoF for reduction of cess on Crude Oil and utilisation of additional Excise on Petrol & Diesel for development of oil industry in January 05, 2016.
  1. Submitted a Comments/ Recommendation on the draft specification of commercial gasoline and diesel to Ministry of Road Transport and Highways in December 26, 2015.

  1. Submitted to MoP&NG on Auto Fuel Policy - Specification of BS V Diesel to December 17, 2015

  1. Industry views/comments on New Fiscal & Contractual Regime for Award of Hydrocarbon Acreages sent to MoP&NG on November 30, 2015 in response to the consultation paper put up by government.
  1. Submitted to NITI Aayog ‘Note covering Oil & Gas Recommendations’ for the National Energy Policy in November 2015.
  1. Submitted to consolidated recommendations to MoP&NG in April 2015 along with AOGO, FICCI AND CII on ‘Ease of Doing Business in India’ and the actions required to be taken in this context to ensure the success of ‘Make in India’ programme.
  1. Submitted to the Ministry of Corporate Affairs and the Institute of Chartered Accountants of India for carve outs in AS-2 on Valuation of Inventories because of fluctuating crude oil prices in April 2015.
  1. Submittted to DG, DGFT on Refund of Terminal Excise Duty on Supply of HSD for Petroleum Operations in Oil & Gas Exploration - Para 8.2 (f) of foreign Trade Policy (FTP) in February 2015.
  1. Submitted to Ministry of Corporate Affairs and the Chairman, Accounting Standards Board (ASB) of the Institute of Chartered Accountants of India in August 2014 on requesting for permitting LIFO as an option for valuation of inventory while notifying Ind AS-2.
  1. Submitted to Secretary, MoP&NG in March 2014 on ‘Suggestions on Role of Upstream Regulator in India'
  1. Submitted to Joint Secretary (TRU-I), CBEC, Depatment of Revenue, MoF in March 2014 on Incidence of Double Duty Taxation on Auto Fuels from SEZ Refinery.
  1. Submitted to Secretary, MoP&NG and Revenue Secretary, MoF in February 2013 on OID Cess
  1. Submitted to Secretary, MoP&NG in February 2013 on 'Report of the Committee on the PSC mechanism in Petroleum Industry - Approach to Gas Pricing'
  1. Submitted to Secretary, Ministry of Shipping in May 2012 on 'Draft Capativ use Policy'.

  1. Submitted to Director General of Foeign Trade, DGFT in November 2011 on Deemed export benefit on supply of fuels for petroleum operations
  1. Submitted to Secretary, MoP&NG in October 2011 on ‘India's Roadmap for Sustainable Aviation Fuel'.

  1. Submitted to Secretary, MoP&NG in September 2011 on Inclusion of Petroleum Products in GST