Petroleum Minister Dharmendra Pradhan was to give away the awards but he could not attend because he was travelling.
It added this wasn't aimed at benefiting Reliance Industries Ltd alone.
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.
Launching a major global initiative for attracting foreign investment in the hydrocarbon sector, India on Monday held a roadshow in London for auctioning 55 oil and gas exploration blocks.
Modi govt is committed to extend the piped gas networks in the country to 30,000 kms in the next 15 years as against the 15,000 kms network today
'Geopolitically and diplomatically it's a very difficult situation for India.'
The asset it owned by Venugopal Dhoot and a US oil and gas explorer.
Tata Projects (Hyderabad), Tractebel Engineers and Constructors Pvt Ltd (New Delhi), Germanischer Lloyd Industrial Services (Mumbai) and Bureau Veritas (India), Pvt Ltd (Mumbai) are among the 13 agencies which will perform technical audit of city gas projects.
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
Government has no role in fixing prices of natural gas produced from areas auctioned under NELP and only approves the pricing formula, petroleum ministry has told a committee of Secretaries appointed to look into the vexed issue.
'India did not surrender. That was why he wanted to pressurise India by this 25% tariffs.'
Reason behind for the change in his stance: gas price increase.
Projects worth over $20 billion, ranging from the decade-long Iran-Pakistan-India gas pipeline to various oil and gas exploration and production projects, are being re-considered, said officials in the Union Ministry of Petroleum and Natural Gas.
"India offers attractive opportunities for foreign investors in petroleum sector under the seventh round of the New Exploration Licensing Policy," Minister of State for Petroleum and Natural Gas Dinsha Patel said on Thursday, while inaugurating a Road Show in Calgary .
Vedanta's Cairn Oil & Gas on Thursday announced the appointment of Nick Walker as the new chief executive officer (CEO) of the company. In a statement, the company said the appointment is effective January 5. "Before this appointment, Walker was president and chief executive officer at Lundin Energy, one of the leading European independent E&P companies," it said.
The government is giving top priority to making available 581 MMSCMD of gas required by power projects in the country, Rajya Sabha was informed on Tuesday.
The government will allow exploration firm Oil and Natural Gas Corporation and Gas Authority of India to market domestic LPG to increase penetration of cooking fuel to 75 per cent of the population.
India will step up efforts to find new oil and gas fields as the country's largest oil producer Oil and Natural Gas Corporation expects output from its existing fields to drop sharply in next few years.
The Goods and Services Tax (GST) Council, scheduled to meet on June 22, could take a call on ending uncertainty on taxing foreign airlines and shippers as regards certain services, a senior official in the know told Business Standard. He said the Council was expected to decide on exempting the services in question from GST - aircraft lease rentals, maintenance, crew salaries, etc. These services are provided by foreign airlines to their Indian operations.
The government may consider a public-private partnership (PPP) mode for setting up national gas highways to ensure distribution across the country.
ONGC Videsh (OVL), a wholly owned subsidiary of Oil and Natural Gas Corporation (ONGC), is eyeing more gas fields in Libya.
The trade war between the US and China is expected to benefit Indian exporters in increasing their shipments to the American market, sources said. They said the country was the fourth-largest gainer when the US imposed higher duties on Chinese goods during US President Donald Trump's first tenure.
Petroleum Minister Mani Shankar Aiyar will visit Dhaka and Yangon in January to explore the possibility of laying a natural gas pipeline from Myanmar to India via Bangladesh.
IndianOil Corp Ltd, for instance, saw a growth of around 22 per cent in volumes and nearly two per cent in its market share. It traded nearly 10,517 million tonnes (mt) of auto gas in December against 8,593 mt of auto gas in September.
Eight companies are in the fray for rolling out gas networks in six cities, bids for which were invited by the Petroleum and Natural Gas Regulatory Board. The deadline for submission of the bids expired on Tuesday.
India is the third largest consumer of petroleum products, after the US and China.
Close on the heels of initiating a dialogue with Iran and Myanmar on importing gas through onland pipelines, Petroleum Minister Mani Shankar Aiyar will soon visit Turkmenistan and Afghanistan to explore the possibility of bringing natural gas from Ce
OVL, along with global oil majors such as Royal Dutch Shell, ExxonMobil, Chevron, ConocoPhillips, British Petroleum, Total and China National Petroleum Corporation, is one of the 35 companies short-listed by the Iraqi government for the auction, which includes six oil-producing blocks with recoverable reserves of 40 billion barrels of oil, making it the largest such auction in the world.
Earlier this week, the ministry had come out with a clarification, saying domestic gas producers had to stick to the earlier price of $4.2 a unit until a further notification from the new government.
The Iran-Israel conflict has further increased global economic uncertainties, impacting world trade, including India's exports, as it is expected to drive up both air and sea freight rates, exporters say. They said that India's exports to Europe and counters like Russia may get impacted due to this war.
Modi said the push towards a gas-based economy where the share of environment-friendly fuel in the energy basket will be increased from 6.2 per cent to 15 per cent by 2030, will create lakhs of jobs and help meet India's COP-21 commitment of cutting emission intensity by 33-35 per cent.
Ras Laffan Liquefied Natural Gas Co Ltd (RasGas) of Qatar has pulled out of state-run National Thermal Power Corporation's tender for supply of 3 million tonnes of LNG for its power plants.
India will begin importing gas in the form of liquefied natural gas from early 2004 to augment deficit in domestic production, Petroleum Minister Ram Naik said.
The complaint states that journalists blocked his way at the guest house, the source said without elaborating.
Govt approved a formula, not a price; PetroMin says a substantial rise was inevitable.
The Petroleum Ministry has proposed a 33 per cent hike in the price of natural gas produced by ONGC and Oil India and gradually increase it to $4.20 per mmBtu set for gas from Reliance Industries' KG-D6 fields.
Of the 17.99 mmcmd gas allocated to the power sector, gas supply pacts of only 2.67 mmcmd allocated to NTPC remained to be signed. NTPC's opposition has also delayed the GSPA for a separate 2.7 mmcmd allocated to the Dabhol power plant and the same is now slated to be signed next week.
'We need to be very vigilant as we are passing through some fraught times.'
