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.
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.
India will develop underground natural gas storage facilities as an insurance against disruption and supply shortfall.
The government is expecting a 'huge' response to its largest ever auction of 55 oil and gas blocks for which bids close on Friday.
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-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-owned gas firm GAIL India Ltd is eyeing stake in two Chinese firms implementing a project to supply CNG to Beijing by 2008, before commencement of the Olympics.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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