A total of 86 metres have to be drilled vertically to prepare an escape passage. Pipes of 1.2 metres in diameter have to be laid vertically through the top of the tunnel on which work began on Sunday as a second option to reach the stranded labourers.
Anil Ambani Group firm Reliance Infrastructure has agreed to pay the levy, although under protest, and has asked the Mukesh Ambani firm to resume natural gas supplies to its power plant.
IOC has been forced to shut down its Digboi refinery in Assam and is operating Guwahati unit at minimal throughput, while OIL has been forced to shut LPG production and its crude oil production has dropped by 15-20%. Sources said the agitation has blocked the movement of tankers and trucks, which are mostly used to supply petrol, diesel and LPG from the refineries to different parts of the North East.
Petronet LNG, which operates a recently expanded ten-million-tonne gas regassification plant in Dahej on the west coast, is exploring a swap option with the gas from the Krishna-Godavari field (K-G D6) on the east coast owned by Reliance Industries Ltd.
Farmers from Mormugao, Ponda and Bicholim talukas met revenue officer Anthony D'Souza, on Wednesday expressing their opposition to the Dabhol-Bangalore pipeline, which will be plugged at Gokak to provide supply gas to Goa.
Existing optimism about the capital goods sector has been enhanced by the Assembly election results, which were favourable for the BJP. The prospects of political continuity led to renewed interest in the sector. There are demand-supply gaps, especially in power, and visibility of improved pricing and strong order flows, including from private enterprises.
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.
The principal director of plans, policy, and resources management for the Maldives National Defence Force, Colonel Ahmed Mujuthaba Mohamed said that discussions are underway for withdrawing Indian troops from the Maldives.
Both the countries have formed a strategic partnership for setting up joint projects in construction, oil and gas, minerals and metallurgy. Besides, Kazakhstan will supply uranium to India for peaceful purpose.
Capital expenditure by Indian companies is likely to see an uptick in the upcoming quarters as capacity utilisation has surpassed the critical threshold of 75 per cent, and numerous companies have deleveraged their balance sheets, according to analysts. The first quarter of the current financial year has shown improved profitability, driven by a decrease in input prices. This, according to analysts at Care Ratings, should stimulate a revival in the private capex cycle.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
Billionaire Gautam Adani's group is building the world's largest renewable energy park in Gujarat, as it eyes a massive 45 GW capacity to generate electricity largely from solar energy. Speaking at the opening of 'Energy Revolution: The Adani Green Energy Gallery' at the Science Museum in London, Gautam Adani said his group's renewable energy arm, Adani Green Energy, is leading an energy transition that honours the commitment of taking care of the planet not just for this generation and the next but also for generations to come. "As the world's leading solar power developer and India's largest renewable energy company, we are taking very big steps," he said.
India's trade account could come under pressure and there could be an inflation push if crude oil prices remain above the $90 per barrel (Brent) for a prolonged period since India imports over 85 per cent of its oil and roughly 50 per cent of its gas. A rebound in economic activity is bound to lead to higher fuel demand. While India is the third-largest importer of crude, it is a net exporter of refined products, which helps to compensate to some degree.
The law regulating the gas pipeline sector will end up making the public sector incumbents dominant players in the market.
India cannot afford to let lower natural gas price of $2.34 per mmBtu prevail as the rate will hinder development of a natural gas industry in the country, US-based Bernstein Research said in a latest report.
Mukesh proposes to undertake piped gas network in AP
ADAG Chairman Anil Ambani on Friday said his group had no immediate plans to seek review of the Supreme Court verdict that rejected cheap gas to group firm RNRL from Mukesh Ambani-led RIL.
Power Minister Sushilkumar Shinde on Friday said the Supreme Court upholding the government's right to approve price and utilisation of gas was a "fair decision" and it had no bearing on the gas supply dispute between NTPC and Reliance Industries.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
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The pipeline where the incident occurred was a dedicated line carrying gas to Lanco's 1,466 MW Kondapalli power plant.
Mumbai municipal officials on Friday descended on the posh Campa Cola society to cut off essential supplies to the illegal flats, but they are facing stiff resistance from the residents, who have blocked their entry by locking up the gates and forming human barricades.
The field is drawing major interest after recent discoveries.
The United States on Thursday slapped sanctions against four Iranian nuclear supply companies and one individual for procuring and attempting to procure goods for Iran's nuclear programme.
RIL said the Anil Ambani group firm "does not have a single power plant since the demerger (of the Reliance empire) and the ADAG owns just one gas-based plant."
Reliance Power's plans are to set up a 7,480-Mw project, which will be the largest gas-fired power project at a single location in the world.
The gas market in India is at an inflection point. The increase in gas supplies would also promote setting up of brownfield and greenfield projects
Days after the Supreme Court rejected his case for cheap gas for his group company, billionaire Anil Ambani has written a morale boosting letter to group employees saying the judgement though "disappointing" has safeguarded interest of RNRL shareholders.
Major General S C N Jatar, who passed into the ages on Monday night, thwarted anti-national forces at the peak of the Assam agitation. Colonel Anil A Athale (retd) salutes this officer and gentleman.
In May 1992, ONGC handed over gas pipelines and marketing functions connected with natural gas to GAIL. However, it continues to be the marketing agency in certain isolated pockets.
The beleaguered Dabhol power plant in Maharashtra is likely to start generating electricity, using gas as feedstock from the second week of August once promoters sort out payment issues.
It will be Reliance Industries' gigantic gas find on the east coast versus the imported LNG offered by ONGC and Indian Oil Corporation in the tender for supply of gas to the 1400 MW power plant in Karnataka.
The total capacity of gas-based stations in India is 18,830 MW of which 15,529 MW is fed with gas from RIL.
Pakistan will work jointly with India while negotiating the gas price with Turkmenistan.
Oil Minister M Veerappa Moily approved continuation of the existing rate of $4.2 per million British thermal units until the new government, which will be in place in May, decides on implementation of the new price formula.
If the government could create a convincing case for capping gas cylinder numbers, there is no reason why the government cannot build a solid case, using similar methods, for a further increase in diesel price.
Top government officials in New Delhi have started discussions with stakeholders ranging from shipping and container companies to export promotion councils to understand the impact of the Iran-Israel tensions and plan ahead. Inter-ministerial talks are also being lined up amid the crisis situation in West Asia, sources confirmed. While the crude flows are not directly under any threat, elevated oil prices remain a concern, according to officials.
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