CNG price in Mumbai as well as several other cities in the country has been hiked by Rs 2 per kg but users in poll-bound Delhi have been spared for the time being, according to city gas firms. Indraprastha Gas Ltd, the firm that retails CNG to automobiles and pipes natural gas to household kitchens for cooking in the national capital and adjoining cities, over the weekend raised CNG price by Rs 2 per kg.
As India's electricity demand soars, the power ministry on Tuesday reviewed the power supply situation to ensure 'zero load shedding' during the summer months. The ministry has drafted plans ranging from delaying planned maintenance of thermal power stations to mandatory operations of imported coal-based and gas-based stations till September. In a series of meetings with industry stakeholders, Union Minister for Power, New, and Renewable Energy R K Singh emphasised the importance of adequate planning to avoid situations where one state has surplus power while another state faces shortages.
Pakistan has decided not to give any guarantee for uninterrupted gas supplies to India through a proposed multi-billion dollar pipeline from Iran, a media report said.
The main issue in the case is terms of Gas Supply Master Agreement whereby Mukesh Ambani-led RIL is to supply natural gas from its Krishna Godavari reserves to Anil Ambani's RNRL. Both parties have filed appeals before division bench, not satisfied with single judge's verdict last year.
The supplies to Anil Ambani Group's power plants including the one proposed at Dadri near Delhi, will be subject to government approving the allocation of the fuel, Mukesh Ambani said.
'It is typical of China's strategic deception of making virtue out of necessity,' observes Rup Narayan Das.
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.
Bajaj Auto - the country's most valuable two-wheeler (2W) company by market capitalisation - met Street expectations in the January-March quarter (Q4) of 2024-25 (FY25) but still ended Friday as the worst performer on the Nifty 50, slipping 3.1 per cent.
Reliance Industries Ltd on Friday reported a 2.4 per cent rise in its March quarter net profit as store rationalisation in retail business and improved margins in telecom helped offset weakness in mainstay oil and petrochemicals business and higher finance cost. Consolidated net profit of Rs 19,407 crore, or Rs 14.34 per share, in January-March - the fourth quarter of April 2024 to March 2025 fiscal (FY25) - was higher than Rs 18,951 crore, or Rs 14 a share, in the same period a year back, the company said in a statement.
State-owned Indian Oil Corporation (IOC), Adani-Total Gas Ltd and Shell were among the 29 companies that bid and bought natural gas to be produced from the deepest field in the KG-D6 block of Reliance Industries Ltd and bp, sources said. IOC walked away with almost half of the 6 million standard cubic meters per day of gas sold in an e-auction on Wednesday while state-owned gas utility GAIL bought 0.7 mmscmd, Adani-Total Gas Ltd 0.4 mmscmd, Shell 0.5 mmscmd, GSPC 0.25 mmscmd and IGS another 0.5 mmscmd, two sources with knowledge of the matter said. Reliance-bp on Wednesday held an e-auction for sale of gas from the MJ field in their eastern offshore KG-D6 block after incorporating the government's new marketing rules to give CNG-selling city gas companies first priority over supplies.
'Geopolitical stability could remove the crude oil risk premium.'
India's economic growth slowed to 7.4 per cent in the March quarter, bringing down the annual growth rate to 6.5 per cent during 2024-25, according to official data released on Friday. The growth in the January-March period was lower than the 8.4 per cent expansion in the year-ago quarter.
The government has slashed by up to a fifth the supplies of cheaper gas to city gas entities that retail CNG to automobiles, increasing their dependence in costly imported fuel. Buying costly imported gas to make up for the shortfall should result in a hike in CNG price but given the ensuing assembly elections in Maharashtra, that may be put off for now. Indraprastha Gas Ltd and Mahanagar Gas Ltd in regulatory filings stated that supplies of domestically produced gas, which was available at a capped rate which is half of the imported price, has been cut.
'The US is strongly placed to expand its crude supplies to India.'
'There's too much coincidence in back-to-back failures of missions critical to national security.'
ONGC's overseas arm applied for a sanctions waiver to access $500 million dividend from two Venezuelan projects.
Aerospace major Rolls-Royce has announced its intention to double its supply chain sourcing from India over the next five years. The company plans to increase sourcing of complex parts for advanced aerospace engines, naval propulsion systems, diesel engines, and gas turbine engines to grow its presence and participation in India's defense sector. Rolls-Royce currently sources a wide range of high-precision parts and engine components from Indian partners for its civil aerospace, defense, and power systems businesses. The company highlights India's emergence as a preferred global sourcing hub and emphasizes its commitment to strengthening partnerships with both existing and potential Indian suppliers to develop capabilities for manufacturing complex engine components locally for global markets. Rolls-Royce highlights its established ecosystem of strategic partnerships, skilled talent, engineering and digital capabilities, service delivery, supply chain, and manufacturing in India, along with a history of successful technology transfer for licensed production of various engines in the defense domain. The company believes that strengthening the supply chain and enhancing ecosystem capabilities will pave the way for future co-production opportunities, supporting India's vision of becoming a self-reliant defense powerhouse. Rolls-Royce emphasizes its commitment to serving the needs of India's armed forces and its focus on participating in co-development opportunities for critical combat engine technologies.
Indraprastha Gas Ltd, whose initial public offer of 4 crore equity shares opens on Friday, plans to expand supply of compressed natural gas to automobiles in Delhi's adjoining cities like Noida, Greater Noida, Gurgaon and Faridabad.
An empowered group of ministers headed by Defence Minister A K Antony is to consider an Oil Ministry proposal of abolishing the priority ranking according to which natural gas is first given to urea manufacturing fertiliser plants, then to LPG units, followed by power plants, city gas, steel and refineries.
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
India is preoccupied with analysing the US sanctions, which may cut off India's access to discounted Russian crude and force it to buy at market prices.
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.
Even four years after splitting the Reliance empire, the Ambani brothers still seem to be washing dirty linen in public: the latest battle is over gas pricing.
ExxonMobil-owned RasGas will supply liquefied natural gas by December to restart the Dabhol power project in Maharashtra, a top official said on Friday.
Adani Total Gas Ltd, the joint venture of billionaire Gautam Adani's group and French energy giant TotalEnergies, will invest Rs 18,000 crore to Rs 20,000 crore in the next 8 to 10 years to expand infrastructure for retailing CNG to automobiles and piping gas to households and industries, its CFO said. The company retails CNG to automobiles and pipes gas to household kitchens for cooking purposes in 52 licences that cover 124 districts of the country. It has 460 CNG stations in the country and about 7 lakh consumers of its piped cooking gas.
Reliance Industries will not "scale down" production from Krishna Godavari basin to accommodate RNRL's future needs, nor would it renegotiate the government-approved price of the gas, the Bombay High Court was told on Thursday.
After HPCL, the government headhunter struggled to find a suitable candidate for the top job at Bharat Petroleum, as most applicants were narrow specialists lacking multidisciplinary experience needed to run a large organisation. The Public Enterprise Selection Board (PESB) last month interviewed a dozen candidates including BPCL director (finance) Vetsa Ramakrishna Gupta and its director (refineries) S Khanna but found none suitable for the job of chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL), according to a PESB order.
The letter comes days after the government made it clear that the empowered Group of Ministers approved price of $4.2 per mmBtu for RIL's KG basin gas.
Mukesh Ambani-run Reliance Industries on Saturday moved the Supreme Court challenging the Bombay high court judgement that asked it to supply gas to Anil Ambani Group's firm RNRL at a price of $2.34 per mmbtu.
Karnataka PWD Minister Satish Jarkiholi has stated that a decision on the Social and Educational Survey report, popularly referred to as caste census, is unlikely in the near future and may take up to a year due to the complexities involved. He expressed concerns that any missteps in addressing the concerns raised by various castes over the report could cause problems for the ruling Congress party in the future. The cabinet is scheduled to take up the matter again on May 2.
The Supreme Court, on Friday, will pronounce its verdict on the nation's most talked corporate battle over gas supply, outcome of which will shape the future of flagship energy firms run by brothers Mukesh and Anil Ambani.
India Gas Solutions the equal joint venture between the two companies, is looking to sell LNG to five power producers in Andhra Pradesh - GMR, GVK, Lanco Infratech, Sravanthi Energy and Konaseema Gas.
Fertilizer sector on Friday sought gas supplies from Reliance Industries's KG-D6 block at no more than 5 dollars per million British thermal unit, even as the power sector nudged the government to take its share of gas in kind.
The Supreme Court on Monday asked Mukesh Ambani-run Reliance Industries Ltd and Anil Ambani group firm Reliance Natural Resources Ltd to reply to the government's prayer for declaring 'null and void' their family agreement on gas supply, and posted the matter for hearing on September 1.
Commenting on the EGoM decision regarding supply of KG gas to upcoming power projects, RIL counsel Harish Salve said, "Government has no right to allocate gas." He clarified that his client was opposed to this stand of the government.
IHS said low regulated gas prices have precipitated a supply shortfall in India, but proposed that reforms to the pricing formula could yield higher domestic production and boost India's economy.
In the midst of the high-octane legal battle between the two Ambani brothers over gas supply from KG-D6 fields, the Planning Commission said on Thursday that it is not concerned about the outcome of the dispute, but only wanted to promote the use of the fuel for the power and fertilizer sectors.
US Vice President JD Vance called on India to drop non-tariff barriers, give greater access to its markets and buy more American energy products and military hardware. Vance, in a speech in Jaipur, highlighted the need for a stronger US-India partnership for a prosperous and peaceful 21st century. He emphasized the importance of working together to address global challenges and praised Prime Minister Narendra Modi, describing him as a "special person." Vance also urged India to provide greater market access to American products and buy more defense platforms and energy from the US. He suggested that India consider dropping some of the non-tariff barriers for American access to the Indian market and highlighted the benefits of closer India-US defense collaboration, advocating for New Delhi to procure more military hardware from the US. He cited the example of American fifth-generation F-35s, arguing they would give the Indian Air Force the ability to defend its airspace and protect its people like never before. Vance also welcomed the Modi government's budget announcement to amend India's civil nuclear liability laws, paving the way for US producers to export small modular reactors and build larger US-designed reactors in India. He emphasized the importance of energy security for India's AI ambitions, stating "there is no AI future without energy security and energy dominance." Vance's visit comes amid growing global concerns over the US's tariff war.
RNRL had sought 28 mscmd of gas for 17 years at $2.34 per million British thermal units (mBtu) from Mukesh Ambani's RIL.
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