India may have to lean more on West Asian nations for supplies of liquefied petroleum gas (LPG), a cooking fuel, in the coming years after Indian state-run refiners drew up big plans to diversify into producing more profitable petrochemicals. This shift leads to reduced LPG output, Indian refining executives said. The mantra for state-run oil companies, from Indian Oil Corporation (IndianOil) to liquefied natural gas (LNG) importer Petronet LNG, which are looking to diversify their businesses from lower-margin fuels, has been value-added petrochemicals.
Delhi's air quality deteriorated significantly on Monday, with areas like Dwarka, Mundka and Najafgarh recording an AQI of 500, the worst this season. The city's overall AQI reached 491, triggering the implementation of the Graded Response Action Plan (GRAP) Stage-IV restrictions in Delhi-NCR. Doctors warned of health risks, urging people to wear N95 masks and avoid outdoor activities. The Supreme Court questioned the Delhi government on its anti-pollution measures and warned against scaling down preventive measures without its permission. Delhi Chief Minister Atishi accused the BJP-led central government of political maneuvering while neglecting stubble burning in states it governs. Meanwhile, the city enforced stricter pollution control measures, including a ban on truck entry and suspension of construction activities. Air purifier sales surged, reflecting the public's concern over the severe air pollution.
A substantial deposit of petroleum and natural gas has been discovered in Pakistan's territorial waters, a cache so large its exploitation could change the country's destiny, according to a media report. A three-year survey was undertaken in collaboration with a friendly country to verify the presence of the oil and gas reserves, DawnNewsTV quoted a senior security official as saying on Friday.
Petronet LNG Limited is expected to deliver liquefied natural gas from its Dahej terminal at Rs 6,567 per million standard cubic metres (mscm), provided the international price of crude remains at $16 a barrel.\n\n\n\n
An AQI of 400 or higher is deemed 'severe' and it can have an adverse effect on both healthy individuals and people who already have medical conditions.
Petronet LNG Ltd will begin supplying liquefied natural gas imported from Qatar, Egypt, Algeria and Oman to the beleaguered Dabhol power plant once a small 15-km stretch of pipeline is completed, a company official said.
The $3-billion Dabhol power project in Maharashtra is facing delays in completion of the LNG receipt terminal, Minister of State for Petroleum and Natural Gas Dinsha Patel said on Thursday.
Rating agency Crisil said on Friday that Asian spot LNG prices are expected to go up in the short term due to power generation disruptions in Japan.
Bangladesh government has shortlisted bidders for a 5-mt LNG terminal at Moheshkhali island in the Bay of Bengal.
The Power Ministry on Monday said it is against hiving off the LNG terminal from the Dabhol power plant.
India is likely to seal a LNG-for-oilfield deal with Iran this week wherein New Delhi will buy five million tonnes of liquefied natural gas from Iran in exchange of Tehran offering it a stake in an oil field.
Pradhan met Energy Secretary Rick Perry during an unscheduled trip to the US Capitol and discussed energy cooperation between India and the US, Indian investment in Liquefied natural gas and shale sectors, and the possibility of the US exporting LNG to India from early next year.
The finance ministry is believed to have objected to some provisions of the policy.
The company has begun discussions with foreign players besides Petronet LNG Ltd for jointly developing the Rs 4,500-crore (Rs 45-billion) terminal.
Shell had last imported LNG cargo at its Hazira Terminal in Gujarat on Oct 13, 2008 from Trinidad and Tobago at $20.5 per mmbtu. On the $9.06 per mmBtu import price, a five per cent custom duty will be levied, taking the landed cost to $9.4 per mmBtu.
After Delhi, CNG price in Mumbai has been hiked by Rs 1.50 per kg and the rate of cooking gas piped to houses by Re 1 due to rise in input costs. Mahanagar Gas Ltd, which retails CNG to automobiles and piped natural gas to households for cooking purposes in Mumbai and surrounding cities, said the increased prices will come into effect from the intervening night of July 8 and 9.
India on Friday received its first-ever import cargo of liquefied natural gas (LNG) at Dahej in Gujarat, that will help bridge the huge natural gas deficit in the country.
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.
State-owned Indian Strategic Petroleum Reserves Ltd (ISPRL), which operates India's strategic crude oil storage, will make awards by December to lease around 1 million tons of crude oil storage space (7.3 million barrels) at two of the country's three existing Strategic Petroleum Reserves (SPRs), around a fifth of the total SPR capacity. This will enable the refilling of crude caverns even as escalating hostilities in the Gulf threaten disruptions in crude supplies, two industry sources said.
RasGas of Qatar is likely to sell liquefied natural gas to public sector Petronet LNG at a fixed price instead of a price indexed to crude oil.
Energy-hungry China has signed a landmark $40 billion deal to buy liquefied natural gas (LNG) from Australia for 20 years that Chinese officials say would put the strained relations between Beijing and Canberra back on track.
Petronet LNG Ltd, India's largest liquefied natural gas importer, expects to sign a contract by the end of July for import of 2.5 million tonnes of LNG from Chevron Corp's Gorgon project in Australia.
P Dasgupta was on Thursday appointed the managing director and CEO of Petronet LNG Ltd, India's largest liquified natural gas importer.
The acquisition of stake in Progress Energy Resources Corp's shale gas assets and Pacific NorthWest LNG for 1 billion Canadian dollars ($900 million) marks IOC's maiden entry into North America.
Petroleum Minister Mani Shankar Aiyar will visit Tehran early next week to salvage the LNG-for-oil field deal, which hit an obstacle after Iran sought a very high price for liquefied natural gas it plans to sell to India.
Iran has changed its pricing formulae for liquefied natural gas sale to India and is demanding 28 cents more per million British thermal unit (mBtu).
Petronet LNG Ltd will sell India's first liquefied natural gas from January next at around $3.6 per million BTU (British Thermal Unit), almost the same price as that of the private domestic natural gas producers.
In an era of deregulation and dismantling of the government-dictated pricing system, Power Minister Anant Geete wants the Centre to regulate the otherwise free liquefied natural gas imports, its pricing and the quantity and place of import.
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