Congress MP Shantaram Naik has also given a privilege notice against Prime Minister Narendra Modi and Defence Minister Manohar Parrikar in the Rajya Sabha in the AgustaWestland issue.
State-owned Indian Oil Corporation (IOC), Adani-Total Gas Ltd and Shell were among the 29 companies that bid and bought natural gas to be produced from the deepest field in the KG-D6 block of Reliance Industries Ltd and bp, sources said. IOC walked away with almost half of the 6 million standard cubic meters per day of gas sold in an e-auction on Wednesday while state-owned gas utility GAIL bought 0.7 mmscmd, Adani-Total Gas Ltd 0.4 mmscmd, Shell 0.5 mmscmd, GSPC 0.25 mmscmd and IGS another 0.5 mmscmd, two sources with knowledge of the matter said. Reliance-bp on Wednesday held an e-auction for sale of gas from the MJ field in their eastern offshore KG-D6 block after incorporating the government's new marketing rules to give CNG-selling city gas companies first priority over supplies.
In the season of trading allegations between the Congress and the Bharatiya Janata Party in Gujarat, the opposition party has now turned to Gujarat Chief Minister Narendra Modi government's blue chip company Gujarat State Petroleum Corporation alleging huge irregularities to benefit a company engaged in pipeline manufacturing in Kutch.
Though Gujarat State Petroleum Corporation officials term it a case of mismanagement, the 'dubious' deal has raised many questions.
Hitting out at the Narendra Modi government on Wednesday, the Gujarat Congress demanded that the controversial deal between Gujarat State Petroleum Corporation's Pipavav Power Company and Swan Energy Ltd be scrapped since it 'smacked of unprecedented corruption and nepotism'.
HPCL, Bharat PetroResources Ltd -- a unit of state-owned Bharat Petroleum Corporation, Gujarat State Petroleum Corporation and Videocon Industries each have 14 per cent interest in the block.
State plans to ask Centre to increase K-G gas allocation.
Gujarat State Petroleum Corporation, the flagship company of GSPC Group involved in exploration and production, has put its public offer plans on a fast track and is aiming to hit the capital markets by May.
Gujarat State Petroleum Corporation LNG Limited has roped in Trectebel Engineering for conducting the front-end engineering and design (FEED) study for the former's 6.5 MMTPA (million metric tonne per annum) LNG ((liquefied natural gas) terminal project.
"As on date, GSPC has drilled 15 wells, of which 11 have proven reserves of 10.8 tcf. The gas production in the field, spread across 1,850 sq km, is likely to kick off after two-and-a-half years," Saurabh Patel, the state's energy and petrochemicals minister, informed the assembly. Of the 15 wells, GSPC received success in 11 wells, while three showed no gas flow. Testing in one well is yet to be done.
UBS Investment Research in its latest report estimated that ONGC and GSPC may get at least $5.5 per million British thermal unit for natural gas they will pump out from their respective Krishna-Godavari basin blocks. RIL is to get a fixed price of $4.2 per mmBtu for gas it would produce from Dhirubhai-1 and 3 fields in KG-D6 block from December-January, for the next five years.
Fertiliser, power plants plan expansion in anticipation
There is no end in sight for the woes of the oil and gas exploration companies.
The International Finance Corporation is the private sector arm of the World Bank GSPC Gas, which is in the business of distributing natural gas to households and vehicles in Gujarat, has lined up an initial investment of $140 million for laying new pipelines for gas and building the infrastructure needed for gas distribution in cities. It may use the IFC fund to partly finance this expenditure.
Holding the Centre responsible for putting Gujarat in a tricky situation, state Petrochemicals Minister Saurabh Patel on Monday informed the Assembly that with the scrapping of gas purchase agreements, Gujarat would not be able to get gas from April this year.
Adani group has begun the spadework to come up with a mega initial public offering (IPO) aiming to raise about Rs 5,000 crore (Rs 50 billion) for setting up a power generation capacity of close to 10,000 megawatt in next five years. The company is chalking out investments plans for generating 1,320 mw power in Rajasthan and 2,000 mw at Dahej in Gujarat by 2012.
State-owned Gas Authority of India Ltd has discovered oil and gas near Ahmedabad, in onshore block awarded under the exploration policy.
Gujarat State Petroleum Corporation, which has discovered India's largest-ever gas field, is planning an initial public offer of 10-20 per cent of equity to part fund the Rs 1,500 crore (Rs 15 billion) investment for beginning the production from the
The Congress on Monday sought a discussion on the latest report of the CAG, listing alleged irregularities in Gujarat State Petroleum Corporation's KG basin gas project and forced three adjournments in Rajya Sabha in the pre-noon session demanding a response from Prime Minister Narendra Modi.
Former Finance Minister P Chidambaram is Congress nominee from Maharashtra for the biennial elections to Rajya Sabha while senior leaders Kapil Sibal and Jairam Ramesh have been named from Uttar Pradesh and Karnataka respectively.
The session of Rajya Sabha came to an end on Friday after passing 12 bills and wasting 19 hours due to disruptions over various issues like imposition of President's rule in Uttarakhand and AgustaWestland helicopter deal controversy.
However, the number of transactions declined to 76 in January-March this year from 110 in the year-ago quarter.
The approval is required to put through gas sales agreements with customers, which in turn are required to finalise Gas Transportation Agreements with transmission companies.
Saurabh Patel, energy minister, Gujarat, who has handled the energy portfolio since 2002, speaks to Archis Mohan on GPSC's investment in the KG basin and says the criticism is politically motivated.
As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank
This comes even after the Indian ambassador there had said this would affect the interests of other Indian companies.
The first task before him is to get used to the idea of working with the Monetary Policy Committee
'He (Modi) thinks as if he is a tiger, and the only one who is right,' Mamata said.
The Congress on Tuesday hit back at Prime Minister Narendra Modi and Bharatiya Janata Party chief Amit Shah over the Ishrat Jahan case, accusing them of "obstructing" judicial process and taking to "patent falsehoods".
Benchmark share indices ended flat amid lack of investor participation even as gains in IT majors ahead of their second quarter earnings helped capped downside.
Keshav Joshi's tongue in cheek look at Narendra Modi's mega plans.
There was no word on whether or when Patel would be talking to the media about his priorities and plan of action as head of Mint Street
The company has chalked out a detailed plan for development of its existing KG basin assets after integration with GSPC facilities.
India Gas Solutions Pvt Ltd -- the equal joint venture between the Mukesh Ambani-led firm and Europe's second largest oil firm - is among the three companies shortlisted by Gujarat government for giving out 25 per cent stake in the Mundra terminal.
Congress members also vociferously pressed for a discussion on the Comptroller and Auditor General report.
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