The company wants 'economic restitution' due to rupee depreciation and changes in law.
On January 17, when the government decided to allow state-owned oil companies to sell diesel at market price to bulk consumers, companies in the alternative energy space saw the opening of an opportunity.
Underrecovery from sensitive petroleum products seen at Rs 1,55,000 cr in current fiscal.
With an eye on bigger imports, the oil marketing firm may get its French partner Total to set it up.
IndianOil Corp Ltd, for instance, saw a growth of around 22 per cent in volumes and nearly two per cent in its market share. It traded nearly 10,517 million tonnes (mt) of auto gas in December against 8,593 mt of auto gas in September.
Their first target would be bulk buyers.
Based on the panel's formula, the base price of domestic natural gas comes to around $7.4 per million British thermal unit (mBtu), but the pricing formula proposed by RIL, officials say, translates the price into $13-14 an mBtu.
Sharp decline in production from flagship Krishna-Godavari basin has changed the business mix for the company.
Analysts say the company's petrochemical segment and higher other income would boost its revenues. On an average, brokerages expect RIL's net profit to rise 12-17 per cent compared with the year-ago period.
IOC protests, says have invested in these facilities over a period of time.
Essar Energy CEO Naresh Nayyar tells Business Standard that in 2013, the company would focus on optimising the operations of the commissioned units and generating cash flows.
Delayed compensation and rising working capital requirement force oil marketing firms like IndianOil to turn to borrowings.
As it gets ready for disinvestment of 10 per cent government equity through the offer-of-sale route in January, T K Ananth Kumar, director (finance), tells Jyoti Mukul the company is one of the cheapest explorers and producers of oil and gas, but awaits more predictability in the government-subsidy sharing mechanism.
ONGC's foreign arm had agreed to buy firm's stake in Kashagan field for $5 billion.
Appoints Foster Wheeler as consultant to prepare project report.
GAIL will have 36 months to lay and commission the pipeline with a capacity to transport up to 60 mscmd of gas.
Maharashtra SEZ act yet to be notified.
The consortium has identified a high-value, high-risk prospect at the site.
Bond issue oversubscribed 15 times despite gloomy sovereign rating.
RIL is peeved with the govt for blocking of approvals and non-revision of gas price produced from its underperforming KG-D6 block.
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