Concerns on lower natural gas transmission, LPG rate cut & APM gas price hike might be priced in but no positive triggers
At least four firms including Gas Authority of India Ltd, Petronas of Malaysia and British Gas have bid for supplying natural gas/LNG to Reliance Energy's mega 3740 MW gas-fired power plant at Dadri in Uttar Pradesh.
State gas transmission firm Gas Authority of India Ltd on Friday filed the draft prospectus for the public issue of government's 10 per cent stake with capital market regulator Securities and Exchange Board of India.
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 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.
Prime Minister designate Manmohan Singh on Thursday said the public sector units like the Oil and Natural Gas Corporation and Gail would not be privatised.
Reliance Industries, India's most valued company, and state-run gas firm GAIL India have identified 10 countries including Qatar, Australia and Russia for setting up a multi-billion-dollar petrochemical plant.
Gail India Ltd said on Monday it will set up LPG plants in Uzbekistan as part of its globalisation drive.\n\n
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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.
The board of GAIL India, the country's largest transporter and marketer of natural gas, on Wednesday approved a proposal to pick up to 19 per cent stake in Oil and Natural Gas Corporation's (ONGC) petrochemical project in Gujarat.
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
Reliance Industries, India's most valuable company, and state-run gas firm GAIL India on Tuesday joined hands to set up a multi-billion-dollar petrochemical plant in gas-rich Middle-East, Central Asia or Russia.
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.
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.
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.
GAIL (India) Limited on Thursday signed three sweeping memoranda of understanding with as many Chinese companies in the oil and gas sector in both countries
An equal joint venture between British Gas (BG) and GAIL, Mahanagar Gas (MGL) provides piped natural gas (PNG) in and around Mumbai. The company says it is now planning to extend its reach by entering more cities in Maharashtra.
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.
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 (India) Ltd has agreed to infuse an additional Rs 500 crore (Rs 5 billion) into Ratnagiri Gas and Power Pvt Ltd to enable the owner of the beleaguered Dabhol plant to clear pending dues of contractors.
Gail to finalise HPL equity participation soon
Gail (India) Ltd, the public sector gas firm, on Tuesday announced that it has tied up the sale of its share of LNG being imported from Qatar and said the regassified LNG from Dahej is the most competitive fuel for power and fertilizer units.
Two persons were killed in an accident at a LPG pipeline of state-owned gas utility GAIL India Ltd at Suryapet in Telangana.
The 386-km pipeline from Dahej to the power plant became operational on Monday.
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.
The brokerage earnings estimate for the January-March 2024 quarter (Q4FY24) for Nifty 50 companies hints at a slowdown in corporate profit growth while revenue increase is likely to be in low single digits as in the previous two quarters. According to various brokerage estimates, the companies' combined net profits are expected to grow 3.1 per cent year-on-year (Y-o-Y) in Q4FY24, the slowest in the last five quarters. For comparison, the index companies' combined net profits were up 8.2 per cent Y-o-Y in Q3FY24 and 3.4 per cent Y-o-Y in Q4FY23.
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.
The company is also looking to expand the supply of gas by roads and is evaluating creation of small storage hubs along the highways.
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