The company is also looking to expand the supply of gas by roads and is evaluating creation of small storage hubs along the highways.
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.
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.
Indian Oil Corporation and Bharat Petroleum Corporation have backed out of Gail's Vizag-Secunderabad LPG pipeline.
The government on Wednesday fixed a floor price of Rs 185 per share for the ensuing public offer of Gas Authority of India Ltd.
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.
The government is likely to drop GAIL as the monopoly builder of trunk gas pipelines in the country and as part of opening up the sector, might allow Reliance Industries to lay a line from Andhra Pradesh to Gujarat.
After ONGC and IFFCO, state-run gas firm GAIL on Tuesday said it would bid for acquiring controlling stake in oil refiner Hindustan Petroleum Corporation if it was permitted by the government policy.
Russia has defaulted on the supply of at least 5 cargoes or shiploads of LNG to India after its retaliatory sanctions hit one of the companies that supply gas to India, sources said. India's largest gas firm GAIL has a long-term deal to import 2.85 million tonnes of liquefied natural gas (LNG) per annum from a Singapore-based unit of Russian gas producer Gazprom. The company has since June defaulted on the supply of 5 cargoes of LNG under that contract citing difficulty in sourcing gas due to sanctions, two sources briefed on the matter said.
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 Andhra Pradesh government on Friday ordered an inquiry into the Gas Authority of India Limited pipeline blast at Nagaram village in East Godavari district, in which 14 persons were killed.
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.
State-run Gas Authority of India said on Thursday that it will invest Rs 4000 crore (Rs 40 billion) in laying pipelines and expanding capacity of its Pata petrochemical complex this fiscal, with 60 per cent of the requirement being raised through deb
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By the end of 2020, India will lay 32,737 km across the length and breadth of the country. It needs to lay down and comply with strict safety standards especially since some of these pipes will go through areas of dense habitation, says Rashme Sehgal.
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
Prime Minister Manmohan Singh on Tuesday dedicated GAIL India Ltd's 1,000 km Dabhol-Bangalore natural gas pipeline to the nation.
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.
At least 8 people have died after a blast ripped through the Gas Authority of India Limited site at Nagaram village in Andhra Pradesh.
The agreement on pricing last month marks a significant step towards promoting energy security in the region, say Nisha Taneja & Samridhi Bimal.
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).
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).
Gas Authority of India Ltd on Monday reported a 18 per cent increase in its net profit to Rs 365.09 crore
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.
MahaVitaran, which draws 95 per cent of the power from the project, has started drawing power at Rs 4 per unit.
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.
Technical bids opened today for Mallavaram-Vijaipur line, winner in three weeks.
The divestment ministry has decided to defer by a month the public issue for divestment of 10 per cent government equity in GAIL and it would now take place after the public placement of equity in Oil and Natural Gas Corporation in March.
Reliance Industries has opposed a move to make marketing margin charged by it and other sellers of domestically produced natural gas uniform, while giving gasimporters a free hand, saying that it would be a gross discrimination.
RIL in a letter to the ministry said if such an "untenable" policy was allowed it would encourage KG-D6 allottees to sell the cheap gas at higher rates during times like plant shutdowns when they don't need the fuel.
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