Pricing and Taxation in Oil and Gas Sector: A study with special reference to ONGC

  • Sumeet Gupta University of Petroleum and Energy Studies
  • Rakesh Kumar Sharma University of Petroleum andv Energy Studies

Abstract

Oil & gas industry in India saw the light of the day when oil was struck at Makum near Marherita in Assam in the year 1967. Prior to independence the Oil & Gas industry in India had controlled by international companies. The entire domestic oil production was from one state – Assam which stood at 250,000 tons per annum. This study provides a holistic examination of pricing and Taxation dynamics in India’s Petroleum sector. This study mainly highlights the issues related to current practices used by ONGC to determine the prices of crude oil, natural gas & value added products and also the various types of direct and indirect taxed imposed on and paid by the company. Moreover, this study also explain the process of price determination of crude oil , natural gas & value added products.

Author Biographies

Sumeet Gupta, University of Petroleum and Energy Studies
M.F.C., NCFM, ACIM, MIFC,MFP,CBA,Ph. D, CPFAMember of Institute of Financial Consultants.Member of Institute of Financial Planning.Chartered Business Administrator  Dr. Sumeet Gupta has more than nine years of teaching and research experience.  He has worked with DAV group of Institutions in State Haryana since 2006. He is also associated with Small Scale Industries for their projects. He has presented one paper in the Seminar sponsored by UGC. Dr. Sumeet Gupta has credit of more than 50 articles and research papers in various reputed magazines and Journals. He has participated and presented his papers in various seminars and workshops. He is having NSE certification in Financial Markets. He is also an active member of NHRD at Jaipur Chapter.           Prof. Sumeet Gupta has worked as a faculty of Finance in IBS (ICFAI Business School), Jaipur since 2010. At present he is a Assistant Professor in Finance in University of Petroleum and Energy Studies, Dehradun.   
Rakesh Kumar Sharma, University of Petroleum andv Energy Studies
Dr. Rakesh Kumar Sharma completed his Ph.d, M.Phil &  Master’s degree in Commerce  from Himachal Pradesh University, Shimla. He has also done  Post Graduate Diploma in Business Administration with finance specialization (equivalent to MBA) from SIMS Pune, Post Graduate Diploma in Accounting & Taxation and Post Graduate Diploma in Personnel Management and Labor Welfare from Himachal Pradesh University Shimla. Rakesh Kumar Sharma has over 12  years of teaching experience in various professional institutes. Presently he is working Assistant Professor (SG) in Department of Accounting & Finance at University of Petroleum & Energy Studies Dehradun Prior to joining UPES he has worked  Ansal Institute of Technology,  Amity Business School, Manesar (Gurgaon) & Rai FoundationAt UPES, Dr. .Rakesh is teaching subjects like Financial Accounting, Cost Accounting, Management Accounting, Financial Management, International finance, Income Tax Law, securities Analysis and Portfolio Management , Financial Derivatives etc. His areas of research are Security Market, Financial Management, Taxation , Merger & Acquisition & international Finance.  
Published
08-10-2012
How to Cite
Gupta, S., & Sharma, R. (2012). Pricing and Taxation in Oil and Gas Sector: A study with special reference to ONGC. Journal of Global Economy, 8(3), 233-260. Retrieved from http://www.rcssindia.org/jge/index.php/jge/article/view/220
Section
Articles

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