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.
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.
On instructions from the Prime Minister's Office for a more uniform distribution of the natural resource, the petroleum ministry had in December 2007 scrapped all contracts for sale of gas produced from PMT fields and nominated GAIL for selling it to 'fuel-starved' fertiliser plants outside Gujarat. But after protests, the ministry agreed to partly restore 3.6 million standard cubic meters per day of gas out of 5.1 mmscmd consumed by RIL's petrochemical plants.
Minster of Petroleum and Natural Gas Murli Deora on Monday commissioned the first stretch of the Dahej - Panvel - Dabhol pipeline from Dahej to Surat.
India may source liquefied natural gas (LNG) from Indonesia and Qatar for restarting the $2.9 billion Dabhol power plant.
According a fast track status to the sale of 10 per cent equity each in Oil and Natural Gas Corporation and Gail, the government on Monday said that financial advisors cum lead managers would be appointed by this week for the two issues.
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.
Though ONGC and OIL are major producers of natural gas, they currently have no presence in its retailing and marketing, a field dominated by GAIL and its joint ventures.
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.
PNGRB, the oil regulator, which as per its enacting legislation has powers to levy fee, has levied a minimum tax of Rs 2 crore per annum on turnover that companies like GAIL and Reliance Industries earn from selling CNG to automobiles and piped natural gas to households and industries.
British firm BG Group has opposed the government's move to take its share of production from gas fields in kind saying it will distort level playing field and give unfair advantage of state-run gas utility, GAIL India Ltd.
The special purpose vehicle floated by GAIL(India) Ltd and National Thermal Power Corporation to revive the 2,184 MW Dabhol power plant has been named 'Ratnagiri Gas and Power Pvt Ltd'.
The slowdown in corporate revenue growth over the last one year has begun to reflect in India Inc's capital expenditure, or capex. The country's top listed companies are going slow on fresh investment in capacity expansion, in line with a deceleration in their top line growth. The combined fixed assets of the listed companies, excluding banking, finance services and insurance (BFSI) and the government-owned oil & gas firms, were up 10.1 per cent year-on-year (Y-o-Y) during April-September 2023 (H1FY24) - the slowest in 18 months - as against 21.1 per cent Y-o-Y growth in H2FY23 (October 2022-March 2023) and 11.6 per cent growth in the April-September 2022 period (H1FY23).
The countdown for BG's stake sale in Gujarat Gas Company (GGCL) begins tomorrow. Three months after BG made its intention of divesting its stake clear, over half a dozen potential bidders are likely to submit non-binding bids for BG's 65.12 per cent stake in the country's largest natural gas distributor by sales.
Gail India subsidiary Mahanagar Gas (MGL) on Friday announced a steep reduction in the retail price of compressed natural gas (CNG) by Rs 8/kg and domestic PNG (piped natural gas) by Rs 5/SCM across its licenced area. The move comes on the heels of the Centre revising the pricing methodology of domestically-produced natural gas on Thursday as proposed by the Kirit Parikh committee and following it with the new price announcement earlier in the day. In February, the city gas distributor reduced its CNG price by Rs 2.5/kg but prices are still around 80 per cent more than those in April last.
The newly set up Petroleum and Natural Gas Regulatory Board has received over 100 applications from domestic and foreign companies interested in supplying gas to domestic households and vehicles in cities.
The petroleum ministry has put on back burner the proposal to create a national gas highway development authority, following an opposition from the Petroleum and Natural Gas Regulatory Board, which currently has the powers to authorise pipelines.
Lowering excise duty on petrol, diesel, and other fuels, branded fuels.
Reliance Industries Ltd has decided not to use its allocation of gas from the Krishna-Godavari basin's D6 field for petrochemical production; it will, instead, swap it with gas available from other sources. It will use D6 gas only for power generation.
Reliance Industries Ltd has sought a minimum supply of 3.6 million standard cubic meters per day of gas for its petrochemical plants from the Panna/Mukta and Tapti fields, from which gas has been diverted by the government to state-run GAIL India. Reliance along with state-run Oil and Natural Gas Corporation and BG Group of UK are the operators of the PMT fields lying in Mumbai offshore and till last month marketed gas from the fields in proportion to their shareholding.
It will be Reliance Industries' gigantic gas find on the east coast versus the imported LNG offered by ONGC and Indian Oil Corporation in the tender for supply of gas to the 1400 MW power plant in Karnataka.
The government on Monday said the decision on the timing of GAIL and Oil and Natural Gas Corporation public issues would be clear by the middle of February, while exuding confidence that both the issues would be completed during this fiscal.
State-owned Oil and Natural Gas Corp has shut some wells on two onland gas fields in East Godavari district of Andhra Pradesh following the fire in a pipeline that carried the gas to consumers.
Oil Minister M Veerappa Moily reviewed the progress on the ambitious 1,680-km project with Turkmenistan Minister for Oil and Gas Mukhammetnur Khalylov, who is in New Delhi to attend the eighth Asia Gas Partnership Summit.
State-run gas utility GAIL India Ltd buys 0.9 million standard cubic meters per day of output from Ravva Satellite fields at $4.30 per mmBtu. The new price sought by the Ravva consortium is 60 per cent more than the maximum price of $4.20 per mmBtu approved for RIL's KG-D6 fields for five years to March 2014.
State-owned Oil and Natural Gas Corp (ONGC) will add about Rs 8,000 crore (Rs 80 billion) to its profits annually from near doubling of natural gas prices from next fiscal.
A team of researchers has revealed that the old adage "what goes up must come down" is ringing true for an immense cloud of hydrogen gas that is heading towards our galaxy at nearly 7 lakh miles per hour.
Pooling will also kick-start projects of Reliance Power, Torrent, Lanco.
Natural gas produced from C-Series fields is sold to GAIL which further markets it to end users.
Analysts cut upstream firms' FY15 earnings estimates, while raising those for GAIL and Gujarat Gas.
BC Tripathi, who helms India's largest natural gas marketer and transporter -- GAIL, discusses last-mile connectivity to homes with Jyoti Mukul and Shine Jacob.
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