Companies & Sectors
Now Moody's says gas price cut will impact investment
Another global ratings agency Moody's has said the sharp hike in natural gas prices notified by the Indian government will not only impact the state-run Oil and Natural as Corp (ONGC) the most, but also discourage new exploration investments and fuel imports.
 
"The gas price reduction is credit negative for upstream producers ONGC and Oil India Ltd. because it will lower their revenues and cash flows, which are already declining from low oil prices," an article by Moody's Credit Outlook said on Monday.
 
"The gas price reduction will have its greatest effect, in absolute terms, on ONGC, the country’s largest producer of natural gas," it said, adding that it expected ONGC's revenues to decline by around $300 million and for Oil India Ltd by only around $33 million.
 
Earlier, Standard & Poor's said the 18-percent cut in domestic prices of natural gas from $4.66 per unit to $3.82 per unit for six months starting October 1 will discourage oil exploration and production companies from committing new capital expenditure.
 
Natural gas prices in India are set by taking a volume-weighted annual average of that prevailing in the US, Britain, Canada and Russia. Prices are calculated on the trailing 12 month data with a lag of one quarter.
 
"India relies on natural gas imports to meet its energy needs. Imports accounted for 36 percent of the total natural gas consumption in India for fiscal 2015 and 39 percent for the five months between April 1 and August 30, 2015," Moody's said.
 
"Imports will continue to increase as low international gas prices stimulate demand for natural gas and low domestic prices discourage further investments by upstream players to explore and develop new gas reserves," it said.
 
"When oil prices are low, upstream players cannot economically produce from difficult terrains such as deep water, where costs are substantially higher," Moody's added.
 
Standard & Poor's said the government's plan to stimulate private sector participation and bring transparency in gas pricing with formula-driven pricing was well intended. But falling oil prices over the past one year has brought uncertainty over the viability of exploration projects.
 
The ratings agency said India should benchmark its natural gas prices to similar gas-deficient nations instead of using rates prevalent in gas-surplus areas like the US and Canada.
 
"The formula for pricing domestic gas considers prices in gas-surplus geographies such as the US and Canada, which have developed gas transportation infrastructure," it said, adding this was not a proper mechanism given India's gas production deficit and gas transport infrastructure.
 
The agency held a similar view that fresh commitments by private oil ad gas companies will remain uncertain, given that several exploration firms globally had scaled back their spending and put new projects on hold amid low hydrocarbon prices.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article
 

User

COMMENTS

MG Warrier

1 year ago

Instead of sporadic analyses of stray events, for once, one of these international rating agencies should take up a comprehensive study of the Costs, Wages and Prices policies in India and suggest corrections. If this happens during the current quarter, perhaps, the 'positives' will be taken cognizance of by Finance Ministry which is currently busy trying to 'make both ends meet' in the Budget for 2016-17.If this is not possible, they should at least take into account the changes happening in India during the current decade pursuant to Government's approach to economic growth.

Best Smartphones Under Rs10,000
All new mobile phones below Rs10,000 provide value for money; some even compete with pricier handsets
 
Indians are price conscious and always try to get the maximum value out of any purchase. Mobile devices are no exception. Currently, there are some very good—in terms of hardware and design—handsets below the Rs10,000 price barrier. Which ones are worth considering? The criteria I have used for selecting Android-based devices include HD or full HD screen—of at least 5 inches or more—2GB RAM, 16GB internal memory and main camera with minimum 8MP. The operating system (OS) must be KitKat or Lollipop and, for Windows phone, it should be 8.1 or above. Here is my shortlist: 
 

Asus Zenfone 2 Laser ZE550KL | Rs9,999

It features Android Lollipop, 13MP camera with dual LED real tone flash (5MP secondary), 5.5-inch HD (Corning gorilla 4 glass) screen, 1.2GHz Qualcomm Snapdragon 410 (64-bit) quad core (QC) processor, 2GB RAM, 16GB internal memory and last, but not the least, an expandable storage of 128GB! The ‘Laser’ tag in the name is for its capability for auto-focus using laser technology while clicking images. 
 

Lenovo K3 Note | Rs9,999

This device has a full HD, 5.5-inch screen, while the OS, camera, RAM, internal memory is the same as Asus Zenfone 2 Laser. It features a 64-bit octa core (OC) processor (1.7 GHz Cortex-A53 -MediaTek). Its expandable memory capacity is limited to 32GB. It has a built-in Dolby Atmos for a better sound experience. 
 

YU Yureka Plus | Rs8,999

This is the successor to the Yu Yureka. It supports 4G LTE, comes pre-loaded with CyanogenMod 12 OS that is based on Android Lollipop. Most of the features of Yureka Plus are similar to Yureka, except the full HD screen that provides a better viewing experience. But, for normal usage, it is hardly noticeable. The CyanogenMod OS offers more customisation and security features like privacy guard, compared with plain-vanilla Android OS.
 

YU Yuphoria YU5010 | Rs6,999

This, again, is a handset from the stable of Yu Technologies (a unit of Micromax). It comes with 1.2GHz Snapdragon 410 QC processor, 2 GB RAM, 16GB internal memory, expandable up to 32GB and dual SIM support. It features 8MP primary and 5MP secondary camera and 5-inch HD screen. The rest of the features of Yuphoria are similar to Yureka Plus, except that this device provides a fast-charging option. Go for it, if you are short of funds.
 

Redmi 2 Prime 4G | Rs6,999

This device from Xiaomi is a successor to the Redmi 1S. It comes with Android 4.4.4 (KitKat) with MIUI interface. It features Qualcomm MSM8916 Snapdragon 410 QC 1.2 GHz Cortex-A53 processor,  2GB RAM, 16GB internal memory (expandable to 32GB), 8MP primary camera and 2MP secondary (front) camera, 4.7-inch HD screen. Redmi 2 Prime also features fast battery charging (30% in 30 minutes). A worthy contender for Yuphoria.
 

Microsoft Lumia 535 (black, dual SIM) | Rs7,249

It comes with QC processor and supports dual SIM. It has Windows phone 8.1 OS and a document editor. It features 5-inch qHD display, 5MP cameras as primary and secondary, 1GB RAM, 8GB internal memory (expandable up to 128GB), Corning gorilla glass 3 and 1905mAh battery. 
 

Microsoft Lumia 540 | Rs8,960

It comes with Qualcomm Snapdragon 200 QC 1.2 GHz Cortex-A7 processor and supports dual SIM. There is Windows phone 8.1 OS with Lumia Denim and a document editor. It has 5-inch HD display, 8MP primary and 5MP secondary, 1GB RAM, 8GB internal memory (expandable up to 128GB), Corning gorilla glass 3 and 2200mAh battery. With Microsoft Office included, you can view or edit documents on the go. 

User

COMMENTS

Sachin Bhutada

1 year ago

Infocus, a new company has been selling incredibly good smartphones under Rs10000 on snapdeal. I have purchased 4 in past 4 months. Recommend all to check it once. Not a mktng agent of that company :)
Infocus M2 @4999 is the best.

Pankaj Mehta

1 year ago

In addition to listing the specs of the models, it would be useful to get the reviewers recommendations with pros and cons of the sets.

manish

1 year ago

these prices are available on snapdeal on lowest spec model.

Made in the Mind
Time and again, the placebo effect is healing people. Now, meditation shows the way
 
“Healing is a matter of time, but it is sometimes also a matter of opportunity.” — Hippocrates
 
Knowledge that we acquire from books, journals, Internet, and so on, especially during our school and college days, is all second-hand. In my early years as a doctor, I had to answer the wife of a young man brought dead to our hospital due to a massive heart attack. A simple question: Why did her husband, who was apparently very healthy, drop dead? My curiosity increased. I did not have any answer to her question. That brought back to memory the things I did not understand from my school days about this universe and the enigma called the human body. My journey to unravel that mystery got me thinking; I still do. In this process, so many things came up that have made me wiser. I call the latter wisdom, since it emanated from my own mind aided and abetted by other thinkers, foremost among them being the late professor Rustum Roy whom providence brought into my life. He encouraged me to think and gave me courage saying that I was on the right path. Up until then, all my associates were only critical of my ‘funny’ thoughts.
 
I have seen, time and again, people getting healed by the placebo effect. I have tried it on many patients who had, what I call, patient-thinks-s/he-has-a-disease syndrome, with excellent results. People have tried magic, sorcery, witchcraft and faith in God, to heal people where Western medicine failed or did not have anything to offer. A recent exhaustive study using even fMRI (functional magnetic resonance imaging) in Oxford, Cambridge, Hamburg and Munich universities, led by prof Ulrike Bingel (in Oxford), has proven the reality of the placebo effect. Placebo effect is truly possible. If that were so, people’s thoughts could affect their health and wellness, for sure. I was wondering if we could use that to keep people healthy, without falling sick.
 
Now meditation has shown a way to attain this state of mind. “Time will soon come when you have a headache: instead of reaching for the drug cupboard, you sit in a quiet place and meditate to raise your consciousness to a higher level to release pain-killer opioids from your own forebrain.” This thought was expressed by Candace Pert, an ace researcher at the NIH (National Institutes of Health) in the United States, in her book, Molecules of Emotion. Research has also shown that meditation could even change your gene penetrance and increase the length of the telomeres (an essential part of human cells that affects how our cells age). If that were so, elevating the level of one’s consciousness to heal any illness should not be a faraway unattainable goal. Medical textbooks and the conventional journals might not be stressing this part of the new wisdom as the latter does not perpetuate the medical business.
 
This is why I have serious doubts about the Newtonian-Descartes model of linear deterministic predictability model of science. In the Western model, this world came into being, from nowhere, some time by a Big Bang. Life evolved mysteriously. That has been seriously questioned now! Up until quantum physics came on the scene, Western science did not make any sense, although it brought, in its wake, all our so called life-enhancing facilities which have made the common man respect Western science and treat it with awe. All these, while making me feel happy that I am on the right track, make my responsibility greater, to find ways and means of healing diseases with the help of our own inbuilt immune guard. This will be devoid of the dangerous iatrogenic illnesses and the disabling adverse drug reactions.
 
(Professor Dr BM Hegde, a Padma Bhushan awardee in 2010, is an MD, PhD, FRCP (London, Edinburgh, Glasgow & Dublin), FACC and FAMS.)

User

COMMENTS

J Pinto

1 year ago

Many Doctors have signed the "Hypocritical" Oath ?

J Pinto

1 year ago

After practising "toxic" allopathy for 40-50 years of one's life one needs to similarly practise and preach against it for another 40-50 years.

OR simply give away the income and profits earned from the previous 40-50 years malpractise.

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)