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.
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).
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.
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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.
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
Prime Minister Manmohan Singh on Tuesday dedicated GAIL India Ltd's 1,000 km Dabhol-Bangalore natural gas pipeline to the nation.
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
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).
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.
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.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
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.
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.
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.
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.
Farmers from Mormugao, Ponda and Bicholim talukas met revenue officer Anthony D'Souza, on Wednesday expressing their opposition to the Dabhol-Bangalore pipeline, which will be plugged at Gokak to provide supply gas to Goa.
GAIL India's ambitious pipeline project - Dahej Uran Pipeline project - has been delayed beyond its set deadline of March 31, 2007
The toll in the deadly blast and fire, apparently caused by leakage from a Gas Authority of India Limited gas pipeline, on Saturday rose to 17, even as Andhra Pradesh police registered a case of negligence against the state-run firm.
While two of the labourers died instantly, one succumbed to his injuries on way to hospital. The place of attack was only 2 km away from the Assam-Agartala National Highway.
The quantities and price of $4.2 per mmBtu for gas under the GSPAs signed for five years are as approved by the government.
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