The company has begun discussions with foreign players besides Petronet LNG Ltd for jointly developing the Rs 4,500-crore (Rs 45-billion) terminal.
With the finance ministry facing the risk of missing its tax collection target this year, it has turned down a proposal to reduce duties on petroleum products to reduce the impact of rising crude prices on profitability of oil companies.
When Modi Rubber closed an agreement with German tyre manufacturer Continental for outright sale of Modi Tyre Company Ltd (MTCL) last month, the exit led to speculation of the group foregoing interests in the segment.
The report, submitted to the government last week, says the slow pace of field development is the reason production has fallen to 50 million standard cubic metres a day (mscmd) from a peak of 60 mscmd last year.
ONGC went for a stock split in preparation for a follow-on issue that is expected to hit the market in the second quarter of 2011-12.
Reliance Industries Ltd (RIL), the operator of the KG-D6 gas block, has told the government it cannot comply with its latest directive on prioritising gas supply.
New players in the organised branded garment retail industry such as Koutons and Cantabil along with a host of other brands are going through a tough time, thanks to the rapid expansion via debt and their deep discounting model.
It plans to invest Rs. 10,000 crore to set up a power generation capacity of 2,500 Mw near Pune.
With RIL's KG-D6 output playing truant, steps need to be taken to stabilise the country's natural gas production.
The government will reserve the right to decide on the cost recoverability of royalty from Cairn India's block in Barmer while clearing Cairn Energy's sale of its Indian subsidiary to Vedanta Resources.
There was a time when gas was offered to India at a cheaper price but we could not close those deals.
After prospects of a higher subsidy outgo on food and fertilisers, the government is faced with the spectre of a higher petroleum subsidy. Rising crude oil prices and its inability to increase fuel prices is all set to spoil the government's subsidy calculations. The country meets 80 per cent of its crude oil demand through imports.
The company is also looking to expand the supply of gas by roads and is evaluating creation of small storage hubs along the highways.
Indian companies with exposure to Egypt are keeping their fingers crossed as the Arab Republic is faced with a massive unrest.
A series of rises in petrol price following its decontrol on June 25 last year has increased the state governments' earnings from value added tax on petrol by around 21 per cent.
Reliance Industries Ltd (RIL) has opposed the proposal of a new pipeline from Kakinada to Srikakulam floated by Andhra Pradesh Gas Infrastructure Corporation (APGIC). RIL has argued that gas availability for the pipeline is uncertain and will not contribute to the development of a national gas grid.
Despite raising petrol prices by around Rs 2.95 a litre - the second-biggest increase in this calendar year so far - public and private retailers are losing Rs 50 crore a day on selling the auto fuel.
Though ONGC and OIL are major producers of natural gas, they currently have no presence in its retailing and marketing, a field dominated by GAIL and its joint ventures.
Ethanol blending with petrol has resumed after more than a year. Last week, sale of blended petrol started in Bangalore, Mathura and parts of Gujarat. While blending will be gradually extended to the other parts of the country, the quantity of ethanol contracted so far is insufficient to continue the programme nationally beyond eight months.
Reliance Industries Ltd's legal battle over the Uttar Pradesh government's decision to impose 21 per cent value-added tax on gas is holding up supply to NTPC's two power plants and Indian Oil Corporation's Mathura refinery, despite a group of ministers making allocation to them.
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