The petroleum ministry has blamed negligence for causing the devastating fire at state-owned gas transporter GAIL India Ltd's gas pipeline in Andhra Pradesh that killed 22 people.
The government has nipped Oil and Natural Gas Corp's exclusive plans to extract liquid petroleum gas and C2/C3 from liquefied natural gas by also allowing gas utility GAIL India to do the same from the common LNG being imported by Petronet.
The government has slashed by up to 20 per cent the supplies of cheaper domestically produced natural gas to city retailers -- a move that may result in Rs 4-6 per kg hike in the price of CNG sold to automobiles, unless excise duty on the fuel is cut, sources said. Natural gas pumped from below the ground and from under the seabed from sites ranging from the Arabian Sea to Bay of Bengal within India is the raw material that is turned into CNG for sale to automobiles and piped cooking gas to households.
The Ratnagiri Gas and Power Pvt Ltd is likely to get gas for power production by June-end, GAIL (India) chairman UB Choubey said.
Other shortlisted chief executives include Abdulrahman Ali Al-Abdulla of Muntajat, Peabody Energy's Gregory Boyce, Pailin Chuchottaworn of PTT Public Company Ltd, Repsol's Antonio Brufau and Ian Taylor of Vitol.
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The pipeline where the incident occurred was a dedicated line carrying gas to Lanco's 1,466 MW Kondapalli power plant.
The Petroleum Ministry in an order on Wednesday said it has revised guidelines for allocation/supply of domestic natural gas to city gas distribution entities for CNG and piped cooking gas sector.
The state-run power utility NTPC Ltd has signed an agreement to buy gas from GAIL India for 10 years at a delivered price of close to $8 per million British thermal unit.
State-run gas firm Gas Authority of India Ltd on Tuesday signed an agreement with Spectra International Ltd of Bangladesh to identify possibilities of joint cooperation in compressed natural gas infrastructure development projects and gas retailing i
Two persons were killed in an accident at a LPG pipeline of state-owned gas utility GAIL India Ltd at Suryapet in Telangana.
The domestic stock market this week would monitor the geopolitical developments after India and Pakistan reached an understanding to stop military actions, analysts said. Moreover, macroeconomic data announcements, Q4 earnings, trading activity of foreign investors and global market trends are also likely to influence sentiments, traders said.
Gas Authority of India Ltd said on Thursday that it is eyeing exploration blocks in Argentina and Mozambique and planning city gas projects in several countries to expand its international operations.
The two firms are discussing bidding jointly for CGD projects in cities that would be put on offer by the sector regulator, Petroleum and Natural Gas Regulatory Board in the future.
State-owned Gas Authority of India Ltd has discovered oil and gas near Ahmedabad, in onshore block awarded under the exploration policy.
At least four firms including Gas Authority of India Ltd, Petronas of Malaysia and British Gas have bid for supplying natural gas/LNG to Reliance Energy's mega 3740 MW gas-fired power plant at Dadri in Uttar Pradesh.
State-owned gas transportation company, Gas Authority of India Ltd has proposed a global depository receipt issue of 2.5 per cent of its equity shares.
State gas transmission firm Gas Authority of India Ltd on Friday filed the draft prospectus for the public issue of government's 10 per cent stake with capital market regulator Securities and Exchange Board of India.
State-run gas firm Gas Authority (India) Ltd may list on the New York Stock Exchange or the Nasdaq by converting its global depository receipts into American depository receipts.
The government has slashed allocation of natural gas used for LPG production, and diverted the low-priced fuel to city gas retailers like Indraprastha Gas Ltd and Adani-Total Gas Ltd to meet a part of their requirement for CNG/piped cooking gas supplies, according an official order. The government had in October and November last year cut supplies of low-priced natural gas coming from old fields such as Mumbai High and Bassein fields in the Bay of Bengal, to city gas retailers by as much as 40 per cent in view of limited output.
Gail to finalise HPL equity participation soon
Eight companies including Reliance Gas Ltd, GAIL Gas and the joint venture of Indian Oil and Adani Energy have bid for the rights to retail CNG in seven cities.
Oil and Natural Gas Corporation will shell out Rs 5,023 crore (Rs 50.23 billion) to subsidise kerosene and LPG in the second quarter of current fiscal.
Indian Oil Corporation and Bharat Petroleum Corporation have backed out of Gail's Vizag-Secunderabad LPG pipeline.
Gas Authority of India Ltd is eyeing a stake in the oil and gas exploration blocks in Argentina and Mozambique. Gail is talking to Shell for picking up stake in two city gas distribution companies in Egypt.
RIL in a letter to the ministry said if such an "untenable" policy was allowed it would encourage KG-D6 allottees to sell the cheap gas at higher rates during times like plant shutdowns when they don't need the fuel.
P Dasgupta was on Thursday appointed the managing director and CEO of Petronet LNG Ltd, India's largest liquified natural gas importer.
The government on Wednesday fixed a floor price of Rs 185 per share for the ensuing public offer of Gas Authority of India Ltd.
A roadshow for the public offer of 10 per cent government equity in the public sector gas transmission unit -- GAIL -- would be flagged off on February 20 in Mumbai.
The government said on Saturday that the public offer of state-owned gas transmission company Gas Authority India Ltd would hit the market on February 27 followed by Oil and Natural Gas Corp public float on March 5.
Oil and Natural Gas Corporation, Gas Authority of India and Oil India Ltd will pay Rs 1,200 crore (Rs 12 billion) to the state-run oil marketing firms for the losses they suffered during the first quarter for selling LPG and kerosene below the cost.
Scottish explorer Cairn Energy Plc rejected state-owned Oil and Natural Gas Corp's $200 million bid to acquire its oil and gas properties on east and west coasts of India.
Former oil secretary Tarun Kapoor, present and former chairmen of ONGC and a former director of IOC, are among over a dozen people who have applied for the top job at the oil and gas regulator, PNGRB, sources said. Kapoor, who superannuated as Secretary to the Ministry of Petroleum and Natural Gas last month, is the most prominent name in the list of 13 persons who have applied to become the chairman of Petroleum and Natural Gas Regulatory Board (PNGRB). Oil and Natural Gas Corporation (ONGC) chairman and managing director Subhash Kumar and his predecessor Shashi Shanker are also in the race and so is G K Satish, who superannuated as Director for Planning and Business Development from Indian Oil Corporation (IOC) a couple of months back.
Gas Authority of India Ltd on Monday reported a 18 per cent increase in its net profit to Rs 365.09 crore
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