OVL, the overseas arm of state-run explorer Oil & Natural Gas Corporation, and Oil India Limited agreed in June last year to jointly buy Videocon's 10 per cent interest in the Rovuma Area 1 for $2.475 billion.
The previous United Progressive Alliance government had last year approved pricing of all forms of domestically produced gas at according to a formula suggested by a panel headed by C Rangarajan.
The state-run power utility NTPC Ltd has signed an agreement to buy gas from GAIL India for 10 years at a delivered price of close to $8 per million British thermal unit.
National Thermal Power Corporation has rejected bids of British oil and gas major BG Group and public sector oil companies' consortium Petronet LNG Ltd for supply of 3 million tonnes of liquefied natural gas.
These mega projects, worth about Rs 1 trillion, would boost the economy, ensure smooth supply of petroleum products across the nation and also provide the much-needed relief to people looking to get back to work after the lockdown.
Biden and Modi committed that the US and India will work closely together to win the fight against the COVID-19 pandemic, renew their partnership on climate change, rebuild the global economy in a way that benefits the people of both countries, and stand together against the scourge of global terrorism, the White House said in a readout of the call.
The spacetech startup is expected to launch the first rocket which can hurl satellites of 250-700 kg into a lower Earth orbit by end-2021.
India faces a new energy crisis - unavailability of gas in the international market - that could worsen power supplies and impact a wide range of industries.
India had included the penalty clause in the $22 billion deal it signed with Iran in June this year for import of five million tonnes of LNG for 25 years so that the fuel reaches its shores as per the committed schedule of 2009-10.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Re-instatement of 5% custom duty on crude imports will help.
The length of the main trunk pipeline is 1,385 km from Kakinada to Bharuch and 75 km is the length of the spur lines.
OVL, along with Oil India Ltd, had in June agreed to buy Videocon Group's 10 per cent in the same block for $2.48 billion.
The plant started operations after Supreme Court vacated a stay granted by Gujarat High Court on pooling of LNG prices to make fuel affordable to the power plant.
Billionaire Gautam Adani-led Adani Group on Monday announced a Rs 20,000-crore investment for expanding the capacity of its Gujarat ports to 100 million tons per annum by 2020.
In four years, the state has had to battle cyclones, two floods, and two epidemiological disasters. If people bring Pinarayi Vijayan back to power, he must have done something right, obsevers Aditi Phadnis.
Australia on Tuesday invited Indian companies to take part in exploration of natural gas but expressed inability to supply LNG to India in the short term.
The camaraderie between Modi and Trump was on full display as the two leaders heaped praise on each other.
Shares of Reliance Industries plunged on Friday after a court ruling that the Mukesh Ambani-led company can not sell its KG basin gas to any company except NTPC and Anil Ambani group's Reliance Natural Resources.
Low gas prices and weakness in petchem margins lead to lower earnings estimates for GAIL.
The beleaguered Dabhol power project has hit a fresh roadblock with Punj Lloyd and its British partner Whessoe, the contractors for completing the LNG terminal, threatening legal action against Ratnagiri Gas and Power Pvt Ltd for default on payments.
Barclays said the refinery would, however, now need to find new sources for the energy for its internal uses.
The US Government Accountability Office, in a recently released report, moved ONGC Videsh Ltd, the overseas arm of state explorer Oil and Natural Gas Corporation, and three others, including Petronet LNG Ltd, out of the list.
The Empowered Group of Ministers on Ratnagiri Gas and Power Pvt Ltd on Wednesday decided to pool the price of gas for Dabhol
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The $3 billion Dabhol power plant in Maharashtra is likely to be completed by 2007-end, the Empowered Group of Ministers was informed on Thursday.
Petronet LNG Ltd, India's largest liquefied natural gas importer, will raise $100 million through foreign currency convertible bonds in June-July, which would result in its promoters ONGC, GAIL IOC and BPCL shareholding falling by 7.5 per cent.
The top-100 wealth creators generated Rs 49 lakh crore during 2014-19, the highest-ever quantum of wealth added, according to Motilal Oswal's Annual Wealth Creation Study 2019. According to the study, Reliance Industries, Indiabulls Ventures and IndusInd Bank are the biggest, fastest and most-consistent wealth creators, respectively. The number of PSUs in the top-100 wealth creators is only nine, namely IOC, BPCL, HPCL, Power Grid Corporation, Petronet LNG, Indraprastha Gas, LIC Housing, Bharat Electronics and NBCC.
Smokers and tobacco consumers will have to shell out more for their indulgence as Finance Minister Arun Jaitley continued with the crackdown on cigarettes and tobacco products by increasing taxes in the Budget for 2017-18.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
Royal Dutch/Shell, world's third largest oil and gas firm, on Thursday said its $600-mn Hazira liquefied natural gas import terminal in Gujarat was fully operational and the company had no plans to sell it off.\n\n
American refiners closed some of their production, leading to futures trade benchmarked to the West Texas Intermediate going negative.
While markets are upbeat over the government decision to nearly double the price of domestically produced natural gas, industry wants it to clearly lay the roadmap for free market pricing regime.
The Standing Committee on Petroleum and Natural Gas in a report tabled in Parliament said the proposed formula is a simple average of two methodologies -- price of imports of LNG into India by different suppliers, and weighted average of prices of natural gas prevailing at Henry Hub in USA, National Balancing Point in London and netback import price at the well head of suppliers into Japan.
Iranian gas, through a pipeline via Pakistan, will cost $2.40-2.49 per million British thermal unit at the Indian border, according to estimates by international consultants working on the 2775-km Iran-India pipeline project.
Petronet LNG Ltd, which completed construction of India's first LNG import terminal at Dahej in Gujarat, announced on Monday that it will float an initial public offering of 26.10 crore
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances