Companies to hold rates in Delhi until new government is formed.
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
Bus and auto fares in the national capital are likely to go up after Indraprastha Gas Ltd announced a hike in the price of compressed natural gas for transport vehicles from July 1.\n\n
The government said on Saturday that the public offer of state-owned gas transmission company Gas Authority India Ltd would hit the market on February 27 followed by Oil and Natural Gas Corp public float on March 5.
GAIL India Ltd on Wednesday said it plans to acquire a small or medium sized exploration and production company.
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.
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.
A roadshow for the public offer of 10 per cent government equity in the public sector gas transmission unit -- GAIL -- would be flagged off on February 20 in Mumbai.
Gail to finalise HPL equity participation soon
Other shortlisted chief executives include Abdulrahman Ali Al-Abdulla of Muntajat, Peabody Energy's Gregory Boyce, Pailin Chuchottaworn of PTT Public Company Ltd, Repsol's Antonio Brufau and Ian Taylor of Vitol.
Prices of natural gas, which is used to generate electricity, make fertiliser and is converted into CNG to run automobiles, is likely to rise to record levels at the rate review scheduled this week, sources said. The government-dictated price for natural gas produced in the country is to be revised on October 1. After factoring in the spike in energy prices witnessed in recent months, the rate paid for gas produced from old fields such as of state-owned Oil and Natural Gas Corporation (ONGC) is likely to rise to $9 per million British thermal units from current $6.1.
Oil and Natural Gas Corporation, Gas Authority of India and Oil India Ltd will pay Rs 1,200 crore (Rs 12 billion) to the state-run oil marketing firms for the losses they suffered during the first quarter for selling LPG and kerosene below the cost.
NTPC Ltd and GAIL India Ltd may have to pump in more money into the Dabhol power plant after an official panel monitoring the progress of the beleaguered project decided to limit lenders' commitment to Rs 455 crore (Rs 4.55 billion).
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The pipeline where the incident occurred was a dedicated line carrying gas to Lanco's 1,466 MW Kondapalli power plant.
Indian Oil Corporation and Bharat Petroleum Corporation have backed out of Gail's Vizag-Secunderabad LPG pipeline.
The mega public issues for sale of government's 10 per cent equity in GAIL (India) Ltd and Oil and Natural Gas Corporation will hit the market on February 23 and March 2, respectively.
The government on Wednesday fixed a floor price of Rs 185 per share for the ensuing public offer of Gas Authority of India Ltd.
State-owned gas utility GAIL India Ltd on Thursday reported a 70 per cent jump in its net profit at Rs 774 crore (Rs 7.74 billion) in second quarter ended September 30, 2005.
The government on Wednesday said it has started the process of appointing financial advisors to offload 10 per cent stake in state-owned oil refinery Oil and Natural Gas Corporation.
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.
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.
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 Minister Dharmendra Pradhan had last month told the Parliament that his Ministry has disallowed RIL from recovering $2.376 billion invested to develop offshore Krishna Godavari gas fields as output has fallen drastically and was way below the promised volumes in past four years.
State-run gas firm Gas Authority of India Ltd has joined hands with Tata Power Co Ltd and British Petroleum to bid as a group for bankrupt US energy firm Enron Corp's Dabhol power plant and LNG import terminal in Maharashtra.
The Rs 16,047-cr company has appointed public sector consultancy, Engineers India Ltd, to conduct feasibility studies for the plant with a capacity of 3 million tonnes a year that is likely to be set up near the gigantic South Pars gas field in Iran.
Two persons were killed in an accident at a LPG pipeline of state-owned gas utility GAIL India Ltd at Suryapet in Telangana.
Former oil secretary Tarun Kapoor, present and former chairmen of ONGC and a former director of IOC, are among over a dozen people who have applied for the top job at the oil and gas regulator, PNGRB, sources said. Kapoor, who superannuated as Secretary to the Ministry of Petroleum and Natural Gas last month, is the most prominent name in the list of 13 persons who have applied to become the chairman of Petroleum and Natural Gas Regulatory Board (PNGRB). Oil and Natural Gas Corporation (ONGC) chairman and managing director Subhash Kumar and his predecessor Shashi Shanker are also in the race and so is G K Satish, who superannuated as Director for Planning and Business Development from Indian Oil Corporation (IOC) a couple of months back.
Gas Authority of India Ltd on Monday reported a 18 per cent increase in its net profit to Rs 365.09 crore
MahaVitaran, which draws 95 per cent of the power from the project, has started drawing power at Rs 4 per unit.
Technical bids opened today for Mallavaram-Vijaipur line, winner in three weeks.
The Maharashtra government is heavily banking upon Dabhol power plant to start functioning at its full capacity of 2,150 Mw to help the state tackle the 5,000 Mw shortage during peak summer season.
India's latest bid round for 21 oil and gas blocks attracted just three bidders, two of whom were state-owned explorers Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL), according to upstream regulator DGH. As many as 21 blocks or areas were offered for exploration and production of oil and gas in the Open Acreage Licensing Policy (OALP) Bid Round-VI, for which bidding closed on October 6. Besides ONGC and OIL, Sun Petrochemicals was the only other company to have bid, according to 'Summary of Bids Received Against Offered Blocks' posted by the Directorate General of Hydrocarbons (DGH).
