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.
Most CNG pumps, including those operated by Mahanagar Gas Limited (MGL), saw long queues from early morning, particularly of black-yellow taxis and autorickshaws, with several drivers reporting wait times of three to four hours, compared to the usual 15 to 30 minutes.
State-owned Oil and Natural Gas Corporation (ONGC) has reported a 10 per cent decline in its June quarter net profit on lower oil prices and stagnant production from its aging fields. The company reported a net profit of Rs 8,024 crore in the first quarter of 2025-26 fiscal year, compared to Rs 8,938 crore earning in the same period last year, a company statement said.
A major gas pipeline damage has disrupted CNG supply in Mumbai, leading to long queues at refuelling stations and affecting autorickshaws, taxis, and other CNG-run vehicles. The disruption is expected to impact transport availability throughout the day.
Reliance Industries, India's largest company by market capitalisation, and GAIL India, the largest transporter and marketer of gas, have sought licences to sell natural gas to households and vehicles across 60 cities in India.
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 India's second quarter (Q2FY25) performance met expectations.
State gas utility GAIL India on Tuesday won rights to retail CNG and piped cooking gas in two of the six cities auctioned and is set to win for another two cities, while its joint venture with Hindustan Petroleum beat Reliance Industries to bag another city.
While most analysts are expecting poor results from oil marketing companies (OMCs) in the first quarter of 2024-25 (Q1FY25) and even in the first half (H1) of FY25, GAIL (India) could be an outlier. Upstream producers, Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) could do well due to strong crude and gas prices, but refiners are likely to see weak margins and the impact of frozen prices during the election period will also be negative.
The four city gas projects in Meerut, Dewas, Sonipat and Kota were awarded to the company in June last year.
GAIL (India) Ltd has pre-poned the supply of gas from the US and is looking to contract more LNG next year as it doubles down efforts to secure affordable energy supplies to meet the needs of Asia's third-largest economy, chairman Manoj Jain said. India's No.1 gas transporting and marketing firm has long-term liquefied natural gas (LNG) supply contracts from the US to Australia and with Russia, supplementing domestic gas supplies. "In 3Q (October-December 2021) we preponed a couple of cargoes (LNG shiploads) from supplies that we were to receive next year and we did it again in the current quarter," Jain told PTI. This is because US LNG costs one-third of the price of gas available in the spot or current market.
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.
Reliance Industries and British Gas have initiated legal proceedings against state-run GAIL (India) to recover about $150 million for gas supplied during June 2004 to March 31, 2005.
The company is looking for affordable contracts from global suppliers, including the United States.
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.
India's purchase of US crude oil has picked up in 2025 and could easily double their previous levels, government officials said on Wednesday. The surge comes in the wake of the then-incoming Donald Trump administration's announcement that it would consider hiking tariffs on a reciprocal basis, and pushed some countries, especially those with large trade surpluses with the US, to buy more of its energy.
Anil Ambani-owned Reliance Energy has approached state-owned gas utility GAIL (India) Ltd for transportation of gas to its proposed 4,000 MW power plant at Dadri.
Replying to a special calling attention motion on the issue by opposition parties, including DMK, Chief Minister J Jayalalithaa said her government would not encourage projects affecting people's welfare.
Chinese import tariffs have unwittingly come to India's assistance to help boost imports of US liquefied petroleum gas (LPG) at rates cheaper than what it pays for supplies from West Asia, according to industry sources and shipping data.
State-owned Gas Authority of India Ltd has discovered oil and gas near Ahmedabad, in onshore block awarded under the exploration policy.
On February 24, when Vladimir Putin announced a military operation on Ukraine, few would have thought that Indian government-owned GAIL India would feel the impact. The tensions over gas supplies were essentially a Europe-Russia problem, related to the sanctions western economies imposed on Moscow. But the EU depends on Russian imports for 40 per cent of its gas stocks, an over-dependence that Russia has underlined with Kremlin-owned Gazprom cutting its supplies through the Nord Stream 1 pipeline to 20 per cent, citing maintenance issues.
A joint venture agreement between GAIL (India) Limited and China Gas Holdings Limited to foray into natural gas
GAIL will take up to 10 per cent of the Hong Kong-listed firm through a share subscription and has agreed not to sell the shares for two years.\n\n
Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said. The oil refining and marketing company, which was the top bidder even in the previous auction of gas from the eastern offshore KG-D6 block of Reliance-bp, bid the volumes on behalf of seven fertilizer plants.
With India making it clear that the US doesn't have enough spare capacity for crude oil, Washington, DC, now wants India to sign fixed-term liquefied natural gas (LNG) contracts with American producers, multiple sources in the know said.
Gail (India) spurted for the second straight today after reports suggested that the gas distributor has struck oil and gas onshore Gujarat.
GAIL, which currently markets 4.8 million standard cubic metres per day of gas from the fields lying in western offshore, will now get to market the entire output of 15.5 mmscmd from PMT fields, a move that will boost the company's annual revenue by about Rs 5,000 crore (Rs 50 billion), official sources said.
The state-run company may soon buy nearly 20 per cent stake in two shale gas acreages - Eagle Ford shale and Barnett shale - in the US.
The Ratnagiri Gas and Power Pvt Ltd is likely to get gas for power production by June-end, GAIL (India) chairman UB Choubey said.
In May 1992, ONGC handed over gas pipelines and marketing functions connected with natural gas to GAIL. However, it continues to be the marketing agency in certain isolated pockets.
GAIL on Wednesday said it is in talks with Reliance for laying a Rs 6,725 crore pipeline from Kakinada in Andhra Pradesh to Uran to pipe natural gas from RIL's gas fields in Bay of Bengal to consumption centres in West and North.
India will develop underground natural gas storage facilities as an insurance against disruption and supply shortfall.
GAIL India chairman and managing director B C Tripathi said the availability and possibility of gas has changed with the change in government policy.
State-run Gail (India) Ltd on Monday said it will hive off its gas trading business into a separate company by 2008, by when the ambitious Rs 20,000 crore (Rs 200 billion) national gas pipeline grid will be in place.\n\n\n\n
State-owned Indian Oil Corporation (IOC) and a joint venture of billionaire Gautam Adani's gas arm and Total of France -- Adani Total Gas Ltd -- have bid for maximum number of licenses to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round.
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