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.
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.
Petronet LNG Ltd, India's first liquefied natural gas importer, will file a draft prospectus on Tuesday for an initial public offering of 271 million equity shares, representing 35 per cent of equity, to raise around Rs 400 crore.
Petronet LNG Ltd on Tuesday said the offer price of its initial public offering of 261 million shares, which will be floated around mid-February, will be decided through book building.
Petronet LNG Ltd, which will become India's first LNG importer when Qatari RasGas' cargo lands at its Dahej import terminal in January next, has planned an initial public offering of equity shares in the same month.
India's first liquefied natural gas importer Petronet LNG Ltd will raise Rs 391 crore (Rs 3.91 billion) through the initial public offering of 260 million equity shares with the offer price being fixed at Rs 15 per share.
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.
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 initial public offering of India's first liquefied natural gas importer Petronet LNG Ltd may be postponed by a week as differences between promoters and merchant bankers delayed fixation of price band for the issue of 261 million equity shares.
Petronet LNG Ltd will float an initial public offering of 261 million shares, representing 34.8 per cent of the total equity of the company, around mid-February, P Dasgupta, director (finance), PLL, said in New Delhi on Friday.
India's first liquefied natural gas importer Petronet LNG Ltd will debut on the stock markets on March 26 when 260 million equity shares will be listed on the Bombay and the National stock exchanges.
Petronet LNG is likely to first allot shares to qualified institutional bidders -- bidding at Rs 15 a share in the event of the offer price being fixed at the lower end of the Rs 13-15 price band.
Petronet's IPO of 261 million shares will hit markets on March 1, 2004. The IPO has been put in a price band of Rs 13-15 a share.
India on Wednesday offered Qatar a 10 per cent stake in Petronet LNG Ltd to get the worlds largest liquefied natural gas exporter to sell 18 more LNG cargoes this year and agree on a long-term supply deal for meeting fuel needs of beleaguered Dabhol power plant.
Petronet India Ltd is likely to formally shelve the Rs 2,450 crore (Rs 24.5 billion) central India petroleum product pipeline project this month as its promoters are no longer keen on the project.\n\n\n\n
French gas major Gaz de France will hedge the risk of India's first liquefied natural gas importer Petronet LNG Ltd against market uncertainties.
Asian Development Bank and ExxonMobil-promoted RasGas of Qatar have taken 10 per cent equity each in Petronet LNG Ltd, the public sector joint venture firm which will begin importing liquefied natural gas from January next year.
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).
Escalation of the conflict in West Asia between Israel and Iran has had a direct impact on the energy markets, and more broadly on the financial markets as well as the global economy.
The Asian Development Bank will invest $75 million in Petronet LNG Ltd for taking 5.2 per cent equity stake even as ExxonMobil-promoted RasGas of Qatar desired to pick 10 per cent stake in India's first liquefied natural gas importer.
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
The shares of Petronet LNG Ltd were on Friday listed on the Bombay Stock Exchange and first trade was struck at Rs 16.50 per share for 500 scrips.
The incident remains a reminder of the inherent fragilities of all geopolitical relationships.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore. In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd (OSL) has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum (MTPA) situated in Ganjam district of Odisha.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
Prime Minister Narendra Modi on Thursday thanked Qatari Emir Sheikh Tamim bin Hamad Al-Thani for the release of eight Indian nationals, who were sentenced to death after being arrested in Doha in August 2022.
Retail investors now own a bigger slice of small-cap companies than a couple of years earlier, attributable to their growing conviction in mutual fund (MF) schemes focused on this space. Data from Capitaline shows MFs' average holding in the National Stock Exchange Nifty Smallcap 250 rising to 8.67 per cent, from 7.67 per cent in the past two financial years, with the number of companies with over 20 per cent MF holdings, rising from 15 to 24. At the end of May, the top five small-cap firms with the highest MF holdings were Carborundum Universal, Blue Star, Cyient, Gujarat State Petronet, and Cholamandalam Finance.
Around 15 years ago, when Reliance Industries (RIL) struck natural gas in the Krishna-Godavari (KG) basin off the east coast, the government made plans to supply that fuel cheaply to scores of generators that sprang up in India triggered by the discovery. Most of the plants, which account for 6 per cent of India's total generation capacity, operate sparsely after the KG-D6 area first failed to meet production targets, and then finally shut shop. Affordable domestic gas was why those thermal plants came up and the rate of the fuel today is why those generators hardly operate. Record liquefied natural gas (LNG) rates may yet again unravel India's ambitions to expand use of gas in industries, households and vehicles. Rates, while volatile, may stay strong this decade as developed nations with higher purchasing power embrace gas as the transition fuel.
ONGC's January-March quarter results for the 2022-23 financial year (Q4FY23) indicated changes in the trends of the energy cycle as well as the impact of policy change in gas-pricing. The public sector oil and gas major reported standalone Ebitda (earnings before interest, tax, depreciation and amortisation) at Rs 16,340 crore, down 12 per cent year-on-year (YoY), and down 20 per cent quarter-on-quarter (QoQ). There was a net loss of Rs 250 crore due to exceptional items of Rs 9,240 crore for provisions related to the ongoing dispute regarding the applicability of service tax and goods and services tax on Royalty.
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
US private equity firm I Squared Capital is dropping out of the race to buy India's second-largest state oil firm, Bharat Petroleum Corporation Ltd (BPCL) owing to a complex deal structure and lack of financial backers for the transaction, sources said. I Squared Capital through its Indian arm, Think Gas was among the three suitors that had evinced interest in buying the government's near 53 per cent shareholding in BPCL. "The company has made a decision not to participate in the financial bidding," a source with direct knowledge of the development said.
Moody's Investors Service on Wednesday raised the rating outlook for 18 Indian corporates and banks, including Reliance Industries, Infosys, SBI and Axis Bank, to 'stable' from 'negative'. This follows the upgrade by the US-based rating agency in India's sovereign rating outlook to 'stable' from 'negative' on Tuesday. The agency had affirmed the sovereign rating at 'Baa3'.
'After exiting jail, I thought some of my IIM-A classmates would contact me. None did.' 'The case indeed scared people, which perhaps was the objective of the State.'
The average top executive monthly compensation is Rs 1 crore. The median employee salary is now Rs 820,000.
A Q-Max LNG vessel, the largest LNG carrier in its class, with a capacity of about 261,000 cubic meters, was received at Petronet LNG Ltd's Dahej import terminal in Gujarat on Tuesday.
"Getting straight to business. PM @narendramodi just concluded a fruitful interaction with top energy sector CEOs at a Roundtable meeting in #Houston. Discussion focussed on working together for energy security and expanding mutual investment opportunities between India & US," MEA Spokesperson Raveesh Kumar said in a tweet.
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.
Ajit Mishra answers reader queries on the stock market.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances