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.
Replying to a special calling attention motion on the issue by opposition parties, including DMK, Chief Minister J Jayalalithaa said her government would not encourage projects affecting people's welfare.
The US Federal Reserve's interest rate decision, global cues, macroeconomic data announcements and the ongoing quarterly earnings are the major triggers that will dictate trends in stock markets this week, analysts said. Besides, the trading activity of foreign investors and the movement of global oil benchmark Brent crude will also be tracked. "All eyes are on the outcome of the US Federal Reserve meeting scheduled for November 1, particularly due to the multi-year high levels of the US bond yields.
At least 8 people have died after a blast ripped through the Gas Authority of India Limited site at Nagaram village in Andhra Pradesh.
One of the beneficiaries is Jindal Steel and Power, which had earlier been kept out of procurement for rails
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 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 department believes dividend from CPSUs is a return on investment made by the government.
State-owned Indian Oil Corporation (IOC) and a joint venture of billionaire Gautam Adani's gas arm and Total of France -- Adani Total Gas Ltd -- have bid for maximum number of licenses to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round.
P Dasgupta was on Thursday appointed the managing director and CEO of Petronet LNG Ltd, India's largest liquified natural gas importer.
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 S&P BSE Sensex and the Nifty50 have hit record highs amid the poll outcome-triggered bull frenzy at the bourses. Most analysts feel that the indices are on course to rise further over the next few months - till the general elections - albeit amid intermittent corrections - largely triggered by global developments. Bharatiya Janata Party's (BJP's) win in the three state elections of Madhya Pradesh (MP), Rajasthan and Chhattisgarh, analysts at Jefferies believe, reinforces the consensus expectations of a Modi win 2024 national elections with a greater likelihood of over 300 seats for the BJP.
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.
Despite India, Pakistan and Turkmenistan signing an agreement for the Trans-Afghanistan pipeline, it faces many hurdles before it can become a reality, says Shebonti Ray Dadwal.
Delhi's power problems could go for a toss if Gas Sales Agreement that GAIL (India) Limited has inked with Pragati Power Corporation Limited to supply 2 MMSCMD of R-LNG becomes operational. The peak demand for electricity in Delhi is slated to grow from the current 4100 MW to 5630 MW in 2010 as per the estimation of Central Electricity Authority.
Oil and Natural Gas Corporation will shell out Rs 5,023 crore (Rs 50.23 billion) to subsidise kerosene and LPG in the second quarter of current fiscal.
Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said. The oil refining and marketing company, which was the top bidder even in the previous auction of gas from the eastern offshore KG-D6 block of Reliance-bp, bid the volumes on behalf of seven fertilizer plants.
State-owned Indian Oil Corp and GAIL Ltd are looking at picking up an equity stake in LNG projects in Africa to meet growing energy needs of the country, Oil Minister S Jaipal Reddy said on Friday.
Valuation slips on rights cancellation; OIL pulls out, GAIL puts plan on ice.
Gail India has received bids from seven firms for the Rs 973 crore (Rs 9.73 billion) Dahej-Uran pipeline project.
The dreary, cold months from December to February may prove to be the undoing of many a nation as they grapple with sky-high fuel prices - a result of the Ukraine conflict and the pandemic. Many - Europe, South Korea, Japan, and China - will still pull through on the strength of their wealth or because of strong storage infrastructure. But India will have its back to the wall. Signs of liquefied natural gas (LNG) rates hitting new records this winter are already evident.
GAIL India's ambitious pipeline project - Dahej Uran Pipeline project - has been delayed beyond its set deadline of March 31, 2007
India's largest oil producer Oil and Natural Gas Corp, gas utility GAIL and exploration firm Oil India Ltd will pay Rs 3,246 crore (Rs 32.46 billion) to oil marketing firms to partly cover the losses they made in April-June.
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 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 Hinduja Group flagship firm Ashok Leyland is planning to set up a multi-million dollar plant in Iran for assembling CNG trucks and buses.
Named "HomoSEP", ten units are planned to be deployed across Tamil Nadu and the researchers are in touch with sanitation workers to identify the locations, officials said.
ONGC will continue as the operator of the deepwater block, KG-DWN-2004/6 with a 34 per cent participating interest in consortium with existing partners GAIL (India) Limited, Gujarat State Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited and Oil India Limited.
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.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
Domestic macroeconomic data announcements, global trends, quarterly earnings and foreign fund trading activity would dictate terms in the equity markets this week, analysts said. Besides, movement of rupee against the US dollar and global oil benchmark Brent crude price would also guide the trading pattern in the equity markets. "From a macroeconomic perspective, market participants will be closely observing key events like the upcoming release of the US manufacturing PMI data, US services PMI data and US non-farm payrolls scheduled between August 1 and August 4.
The government will sell its remaining 26 per cent stake in IBP Co Ltd through a public offer this fiscal besides offloading 10 per cent equity in Oil and Natural Gas Corporation and Gail (India) Ltd to raise Rs 15,000 crore.
In a move that may spook Oil and Natural Gas Corp's (ONGC) planned public offering, the government has hiked the contribution of upstream oil companies toward fuel subsidies to 38.8 per cent for 2010-11 fiscal.
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