Buy these stocks on any correction as both the companies have strong long-term prospects
Describing DBT for LPG as a 'tremendous success,' Oil Minister M Veerappa Moily said the programme, when implemented throughout the country, would help save Rs 8,000-9,000 crore (Rs 80-90 billion) of subsidy from going to unintended beneficiaries.
Oil marketing companies IndianOil, Bharat Petroleum and Hindustan Petroleum together blocked nearly 2.9 million LPG connections belonging to customers having more than one connection across states.
Three recent initiatives kicked off with renewed vigour to improve governance were actually started, perhaps in a different format by the UPA government.
The Government may be keen on having a greater say in affairs of Petronet LNG as it is looking at appointing a bureaucrat as director on board of the nation's biggest liquefied natural gas importer.
India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.
The companies are in talks with Shell, Petronet LNG to book capacity
Amid a spate of government proposals at its door, the Election Commission has asked all Union government departments to route their proposals through the Cabinet Secretariat.
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.
In the 38-page report, across 10 chapters, RIL explained how it entered the exploration and production business; the history of the New Exploration and Licensing Policy and the introduction of production-sharing contracts.
The acquisition of stake in Progress Energy Resources Corp for 1 billion Canadian dollars ($900 million) mark IOC's maiden entry into North America.
The new government may also introduce a separate scheme for revival of stranded gas-based power projects
Since taking office in 2014, the prime minister has been working tirelessly, a query through RTI reveals.
IOC has asked consumers to book LPG refill through IVRS or SMSes so that refills reach genuine users.
The divestment of Bharat Petroleum Corporation (BPCL) may hit a fuel price hurdle, according to officials dealing with the matter. They pointed out that the inconspicuous administered price regime could hamper the prospects for potential buyers of BPCL. A senior oil ministry official said public-sector oil-marketing companies (OMCs) take a hit when they sell petrol, diesel, and liquefied petroleum gas (LPG), three of the most popular petroleum products in the country.
Hindustan Petroleum Corporation and Petronet LNG will partner with Oil and Natural Gas Corporation in the liquefied natural gas import terminal ONGC plans to put up at Mangalore in Karnataka.
Yamal LNG is a joint venture owned by OAO Novatek with 80 per cent and Total S A holding 20 per cent stake OAO Novatek holds 60 per cent stake in Yamal LNG, while Total S A and China National Petroleum Corp hold 20 per cent each
Experts say local demand, government policies in retail and refining sector are attracting foreign players.
The first stretch of Dahej-Panvel-Dabhol pipeline, which will feed natural gas to the beleaguered Dabhol power project in Maharashtra, has been commissioned.
Russia has welcomed India's decision to not support the price cap on Russian oil announced by G7 and its allies and offered it cooperation on leasing and building large-capacity ships to overcome the ban on insurance services and tanker chartering in the European Union and Britain to continue buying discounted oil. The offer came as Russian Deputy Prime Minister Alexander Novak held a meeting with the Indian Ambassador to Moscow, Pavan Kapoor, on Friday. "The Deputy Prime Minister welcomed India's decision not to support the price cap on Russian oil, which was imposed on December 5 by the G7 countries and their allies," the Russian foreign ministry said in a statement.
The multilateral lending agency holds 3.9 crore (Rs 39 million) shares in Petronet LNG, which at today's trading price of Rs 114.85 is worth Rs 448 crore (Rs 4.48 billion).
Iran on Tuesday denied existence of any contract for export of liquefied natural gas to India while stating that it cannot wait endlessly for New Delhi to join the Iran-Pakistan-India gas pipeline project.
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.
A day after deciding to nearly double natural gas prices to $8, Finance Minister P Chidambaram on Friday hinted that power and fertiliser units may get gas at subsidised rates to keep electricity and urea costs down.
India on Tuesday said its vote against Iran's nuclear plans will not affect the prospects of the proposed $7.4 billion Iran-Pakistan-India gas pipeline and its $22 billion deal to import LNG from Tehran.\n\n
Global oil and gas majors Shell and ConocoPhillips have offered to sell Australian liquefied natural gas to India to meeting its growing energy needs, petroleum secretary S C Tripathi said on Monday.
Venkaiah Naidu said Aadhaar will not be made mandatory till the entire population gets such cards or UID numbers.
Iran may offer Indian oil firms equity in its oil and gas fields in return of New Delhi agreeing to buy natural gas from it.\n\n\n\n
Oil and Natural Gas Corporation may take up the 20 per cent stake in a $ 2 billion liquefied natural gas project in Iran.
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.
Qatar has agreed to supply 1.2 million tonnes per annum of liquefied natural gas to fire the Dabhol power plant in Maharashtra, but differences persist over the price.
Public sector Petronet LNG Ltd will deliver liquefied natural gas imported from Qatar at $3.6-37 per million BTU, matching the prevailing price of domestic natural gas.\n\n
Union oil and petroleum minister Ram Naik will travel to Tehran to discuss the prospect of importing liquefied natural gas and to boost bilateral cooperation in the energy sector.
The post fell vacant after incumbent Prasad Dasgupta took early retirement. Dasgupta's five-year term was to come to an end on August 31 and he was eligible for a two-year extension till he attained superannuation at the age of 65 in 2012.
