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.
The consortium of Oil and Natural Gas Corp, Reliance Industries and BG Group of UK will continue selling gas from Panna/Mukta and Tapti fields to state-run gas firm GAIL
Oil and Natural Gas Corp on Tuesday disputed claims made by gas utility GAIL (India) Ltd of an agreement with the operators of Panna/Mukta and Tapti fields to continue selling gas beyond March 31.
State-run gas firm GAIL (India) Ltd on Wednesday said it was talking to the Indian lenders of the Dabhol Power Company to takeover the 2,184 MW power plant and the adjoining LNG import facility in Maharashtra.
State-run Gail (India) Ltd on Friday approved Rs 500 crore (Rs 5 billion) investment in Ratnagiri Gas and Power Pvt Ltd, the special purpose vehicle created to restart Dabhol power plant in Ratnagiri, Maharashtra.
The special purpose vehicle floated by GAIL(India) Ltd and National Thermal Power Corporation to revive the 2,184 MW Dabhol power plant has been named 'Ratnagiri Gas and Power Pvt Ltd'.
Qatar and Australia are likely to supply fuel for restarting the $3 billion Dabhol Power Project in Maharasthra from the fourth quarter of 2006.
Gail India has protested Petroleum Minister Mani Shankar Aiyar's plans to open up laying of natural gas pipelines to the private sector, saying competition cannot protect consumer interest.
BP and Reliance Industries Ltd are leading the race to pick up a 25 per cent stake in Gujarat State Petronet Corporation and the Adani group's five million tonnes per annum liquefied natural gas terminal at Mundra.
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
State-run GAIL (India) Ltd, which has laid a vast network of fibre optic cables along the gas pipeline grid it operates, will sell bandwidth to newspapers, news agencies and TV channels at a 70 per cent discount.
State-run gas utility Gail (India) Ltd is aiming a 10 per cent stake in China Gas Holdings Ltd, which has exclusive rights to set up city gas distribution projects in 42 cities in China.
British firm BG Group has opposed the government's move to take its share of production from gas fields in kind saying it will distort level playing field and give unfair advantage of state-run gas utility, GAIL India Ltd.
Gail India Ltd will import spot LNG cargo from Algeria at $9.28 er million British thermal unit.
GAIL (India) Ltd on Friday reported a 22 per cent dip in its net profit at Rs 409 crore (Rs 4.09 billion) to fourth quarter ended March 31 on having to payout Rs 538 crore (Rs 5.38 billion) towards subsidising LPG and kerosene.
State-owned refiner Indian Oil Corp and its exploration partner Oil India Ltd plan to bid for two onshore oil and gas exploration blocks in Myanmar.
The Hinduja Group flagship firm Ashok Leyland is planning to set up a multi-million dollar plant in Iran for assembling CNG trucks and buses.
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