Sources said ONGC Videsh Ltd, the overseas arm of state explorer, and GAIL have made a non-biding offer showing interest in acquiring Exxon's stake.
"The increase in net profit during the third quarter of the current financial year was mainly due to the increase in natural gas transmission, LPG transmission and natural gas trading business," GAIL Chairman and Managing Director B C Tripathi said.
State-owned Gail India Ltd, which has been given the task to source fuel for restarting the Dabhol power project in Maharasthra, is talking to LNG suppliers in Qatar, Australia, Malaysia, Oman and UAE.
State-run Gail (India) Ltd on Monday said it will hive off its gas trading business into a separate company by 2008, by when the ambitious Rs 20,000 crore (Rs 200 billion) national gas pipeline grid will be in place.\n\n\n\n
Government on Tuesday decided to sell 10 per cent stake in India's largest profit making firm Oil and Natural Gas Corp and gas transmission monopoly Gail (India) Ltd.\n\n
GAIL on Wednesday said it is in talks with Reliance for laying a Rs 6,725 crore pipeline from Kakinada in Andhra Pradesh to Uran to pipe natural gas from RIL's gas fields in Bay of Bengal to consumption centres in West and North.
The government's offer for sale of 84.5 million equity shares in GAIL (India) Ltd through book-built public offer opened on Friday and received bids for 4.411 million shares in the first hour of bidding process.
The world's third largest oil firm Royal Dutch/Shell has offered state-run gas firm Gail (India) Ltd a 15 per cent stake in an offshore medium sized gas field in Egypt.
Plans to build a pipeline from the Chayanda gas field in East Siberia to the proposed Vladivostok LNG facility
GAIL (India) Ltd is in talks with US energy major Exxon for importing 5 million tons of liquefied natural gas at Dabhol, company chairman U D Choubey said on Wednesday.
NTPC Ltd and GAIL India Ltd may have to pump in more money into the Dabhol power plant after an official panel monitoring the progress of the beleaguered project decided to limit lenders' commitment to Rs 455 crore (Rs 4.55 billion).
India will develop underground natural gas storage facilities as an insurance against disruption and supply shortfall.
GAIL (India) Ltd has pre-poned the supply of gas from the US and is looking to contract more LNG next year as it doubles down efforts to secure affordable energy supplies to meet the needs of Asia's third-largest economy, chairman Manoj Jain said. India's No.1 gas transporting and marketing firm has long-term liquefied natural gas (LNG) supply contracts from the US to Australia and with Russia, supplementing domestic gas supplies. "In 3Q (October-December 2021) we preponed a couple of cargoes (LNG shiploads) from supplies that we were to receive next year and we did it again in the current quarter," Jain told PTI. This is because US LNG costs one-third of the price of gas available in the spot or current market.
Gail India Ltd said on Thursday its Chairman and Managing Director has been selected as fellow of the World Academy of Productivity Science.
The government has slashed by up to a fifth the supplies of cheaper gas to city gas entities that retail CNG to automobiles, increasing their dependence in costly imported fuel. Buying costly imported gas to make up for the shortfall should result in a hike in CNG price but given the ensuing assembly elections in Maharashtra, that may be put off for now. Indraprastha Gas Ltd and Mahanagar Gas Ltd in regulatory filings stated that supplies of domestically produced gas, which was available at a capped rate which is half of the imported price, has been cut.
Indian Oil Corporation, India's largest refiner, on Thursday sold half its stake in gas firm GAIL (India) Ltd for Rs 561.54 crore (Rs 5.61 billion) to repay debts and raise money for expansion plans.
State-owned Oil and Natural Gas Corporation (ONGC) has reported a 10 per cent decline in its June quarter net profit on lower oil prices and stagnant production from its aging fields. The company reported a net profit of Rs 8,024 crore in the first quarter of 2025-26 fiscal year, compared to Rs 8,938 crore earning in the same period last year, a company statement said.
The mega public issues for sale of government's 10 per cent equity in GAIL (India) Ltd and Oil and Natural Gas Corporation will hit the market on February 23 and March 2, respectively.
The Petroleum Ministry has asked the oil regulator to look into the marketing margin charged by not just Reliance Industries, but also state-owned GAIL India Ltd on the sale of domestic gas and imported LNG.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
Gail India Ltd will import spot LNG cargo from Algeria at $9.28 er million British thermal unit.
State-owned gas utility GAIL India Ltd on Thursday reported a 70 per cent jump in its net profit at Rs 774 crore (Rs 7.74 billion) in second quarter ended September 30, 2005.
Gail India Ltd has posted a net profit of Rs 3592.90 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 3062.20 million in the quarter ended December 31,2001.
The Rs 16,047-cr company has appointed public sector consultancy, Engineers India Ltd, to conduct feasibility studies for the plant with a capacity of 3 million tonnes a year that is likely to be set up near the gigantic South Pars gas field in Iran.
The world's third largest oil firm Royal Dutch/Shell has objected to state-run Gail India Ltd being made the sole agency to build the Rs 20,000 crore
A major fire broke out at GAIL's natural gas pipeline in South Delhi's Satyaniketan area after it was perforated by civic construction contractors but there were no casualties reported.
State-run gas utility GAIL India and state refiner Bharat Petroleum Corp Ltd have floated a joint venture company to supply piped natural gas for domestic and commercial use
State-run gas firm Gas Authority of India Ltd on Tuesday said it has signed an agreement with Mosbacher India and Hindustan Oil Exploration Co Ltd for sale and transportation of gas produced from PY-1 fields in offshore Cauvery basin.
State gas utility GAIL India on Tuesday won rights to retail CNG and piped cooking gas in two of the six cities auctioned and is set to win for another two cities, while its joint venture with Hindustan Petroleum beat Reliance Industries to bag another city.
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