Lok Sabha Question No. 232 (STARRED), answered on 2018-03-12
Subject: Loss incurred by Oil Companies
Ministry: PETROLEUM AND NATURAL GAS
Asked by: SADASHIV KISAN LOKHANDE

## LOK SABHA STARRED QUESTION NO. 232 TO BE ANSWERED ON 12 TH  MARCH, 2018

## LOSS INCURRED BY OIL COMPANIES

## †*232.  SHRI SADASHIV LOKHANDE:

पेट्रोल ियम और प्राक ृ तिक गैस मंत्री

## Will the Minister of PETROLEUM AND NATURAL GAS be pleased to state:

- (a) the amount of loss incurred by the Government and each petroleum company due to increase in the prices of petroleum during the last three years and the current year, year-wise; and
- (b) the subsidy on kerosene and LPG provided by the Government during the said period, productwise?

## ANSWER पेट्रोल ियम और प्राक ृ तिक गैस मंत्री (श्री धमेन्द्र प्रधान)

## MINISTER OF PETROLEUM AND NATURAL GAS (SHRI DHARMENDRA PRADHAN)

(a) & (b):

A statement is laid on the Table of the House.

x-x-x-x-x

## Statement  referred  to  in  reply  to  parts  (a)  &  (b)  of  the  Lok  Sabha  Starred  Question No.232 asked by Shri Sadashiv Lokhande to be answered on 12 th March, 2018 regarding 'Loss incurred by oil companies'.

- (a)   The  Profit  after  Tax  (PAT)  of  the  PSU  Oil  Marketing  companies  (OMCs) for  the  last three years and current year is given as under:-

(Rs. Crore)

| Companies        | 2014-15          | 2015-16          | 2016-17          | 2017-18 (Apr- Dec),   |
|------------------|------------------|------------------|------------------|-----------------------|
| Profit After Tax | Profit After Tax | Profit After Tax | Profit After Tax | Profit After Tax      |
| IOC              | 5,273            | 10,399           | 19,106           | 16,128                |
| HPC              | 2,733            | 3,863            | 6,209            | 4,609                 |
| BPC              | 5,085            | 7,432            | 8,039            | 5,246                 |

- (b): The prices of petrol and diesel have been made market determined by the Government effective 26 th June, 2010 and 19 th October, 2014 respectively and since then their prices are being decided by the OMCs in line with the changes in the international market prices. The Government continues to modulate the effective price to consumer for Subsidized Domestic LPG and Retail Selling Price (RSP) of PDS Kerosene.

The  year-wise  subsidy/  under-recovery  on  Subsidized  Domestic  LPG  and  of  PDS Kerosene for the last three years and the current year is given as under:

(Rs. Crore)

| Particulars                                                                                                                                           | 2014-15                                                                                                                                               | 2015-16                                                                                                                                               | 2016-17                                                                                                                                               | Apr-Dec'17                                                                                                                                            |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| PDS Kerosene #                                                                                                                                        | 24804                                                                                                                                                 | 11496                                                                                                                                                 | 8455                                                                                                                                                  | 3275                                                                                                                                                  |
| Domestic LPG #                                                                                                                                        | 40569                                                                                                                                                 | 16074                                                                                                                                                 | 14566                                                                                                                                                 | 14,172                                                                                                                                                |
| # Includes Subsidy under 'PDS Kerosene and Domestic LPG Subsidy Scheme, 2002' & 'Freight Subsidy (For Far-Flung Areas) Scheme, 2002' on payment basis | # Includes Subsidy under 'PDS Kerosene and Domestic LPG Subsidy Scheme, 2002' & 'Freight Subsidy (For Far-Flung Areas) Scheme, 2002' on payment basis | # Includes Subsidy under 'PDS Kerosene and Domestic LPG Subsidy Scheme, 2002' & 'Freight Subsidy (For Far-Flung Areas) Scheme, 2002' on payment basis | # Includes Subsidy under 'PDS Kerosene and Domestic LPG Subsidy Scheme, 2002' & 'Freight Subsidy (For Far-Flung Areas) Scheme, 2002' on payment basis | # Includes Subsidy under 'PDS Kerosene and Domestic LPG Subsidy Scheme, 2002' & 'Freight Subsidy (For Far-Flung Areas) Scheme, 2002' on payment basis |