Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Gail (India) spurted for the second straight today after reports suggested that the gas distributor has struck oil and gas onshore Gujarat.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
Valuation slips on rights cancellation; OIL pulls out, GAIL puts plan on ice.
Despite India, Pakistan and Turkmenistan signing an agreement for the Trans-Afghanistan pipeline, it faces many hurdles before it can become a reality, says Shebonti Ray Dadwal.
ONGC will continue as the operator of the deepwater block, KG-DWN-2004/6 with a 34 per cent participating interest in consortium with existing partners GAIL (India) Limited, Gujarat State Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited and Oil India Limited.
"There are five Indian and six foreign companies which have submitted expression of interest (EoI) for buying stake in the gas transportation company (RGTIL)," a source privy to the development said.
Plans to build a pipeline from the Chayanda gas field in East Siberia to the proposed Vladivostok LNG facility
State governments in Punjab, Gujarat, Maharashtra and Jammu & Kashmir are on high alert and have come up with contingency plans to ensure the security of residents in case of a war.
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.
Majority of PLL's long-term deals are linked to crude, which faces price challenge from other fuels. Spot LNG is moving away from this linkage, which puts a question mark on crude linked contracts.
Market cap of government companies has remained unchanged in the past 8 years.
The company management remained tight-lipped about the resignations, but indicated there was nothing unusual in these movements.
GAIL will have 36 months to lay and commission the pipeline with a capacity to transport up to 60 mscmd of gas.
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.
GAIL India plans to consolidate presence in petrochemicals and renewable energy, allocate a percentage of annual capital expenditure for exploration and production (E&P), pick up equity in upstream LNG projects abroad, and pursue investments in shale gas projects in and outside.
Technical bids opened today for Mallavaram-Vijaipur line, winner in three weeks.
State-run gas utility GAIL India on Monday said it should be exempted from payment of fuel subsidies as it does not get any upside from rise in crude oil or natural gas price.
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.
In a move that may spook Oil and Natural Gas Corp's (ONGC) planned public offering, the government has hiked the contribution of upstream oil companies toward fuel subsidies to 38.8 per cent for 2010-11 fiscal.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
"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.
The Government may be keen on having a greater say in affairs of Petronet LNG as it is looking at appointing a bureaucrat as director on board of the nation's biggest liquefied natural gas importer.
Addressing a meet organised by PHD Chamber of Commerce and Industry in New Delhi, GAIL chairman and managing director B C Tripathi said his company was laying new pipelines to connect cities like Uttar Pradesh, Uttrakhand, Punjab and Haryana.
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.
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Three PSUs, three private firms join bid to acquire 40% stake in Haldia Petrochem.
In a significant development, the government may allow state gas utility GAIL India to charge a marketing margin on sale of APM or subsidised natural gas.
Eighteen candidates from state-owned companies have applied for the post of chairman and managing director of the country's largest gas marketer, GAIL India, nine months before the incumbent retires.
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.
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.
Reliance Industries Ltd has decided not to use its allocation of gas from the Krishna-Godavari basin's D6 field for petrochemical production; it will, instead, swap it with gas available from other sources. It will use D6 gas only for power generation.
ONGC currently supplies gas directly in isolated pockets of India, mainly in Gujarat and Assam, which contributes around Rs 100 crore (Rs 1 billion) to ONGC's total marketing revenues. In May 1992, gas pipelines and marketing functions related to natural gas were transferred by ONGC to GAIL. However, there are certain isolated pockets where ONGC continues to be the marketing agency.
GAIL executives, 2,200 in number, are part of the Oil Sector Officers Association, which has given an indefinite strike call from Wednesday to protest against a pay increase smaller than what was demanded by the organisation. A strike in the oil sector can cripple the already fragile economy and companies like GAIL had been approaching courts for restraint orders to keep fuel supply lines operating.
State-run gas utility GAIL India may take a stake in the $1.95-billion gas pipeline that China is building for ferrying natural gas found off the Myanmar coast.
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.
The Cairn-ONGC-Videocon consortium had last month written to the petroleum ministry seeking a 57 per cent hike in the Ravva Satellite field gas price citing provision in the Production Sharing Contract for the field.
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