The field is drawing major interest after recent discoveries.
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 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
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.
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.
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.
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 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.
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.
Pakistan will work jointly with India while negotiating the gas price with Turkmenistan.
The total capacity of gas-based stations in India is 18,830 MW of which 15,529 MW is fed with gas from RIL.
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.
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.
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.
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.
Floods in Gujarat continued to disrupt half of India's natural gas production for the second day on Wednesday, threatening power generation in north and CNG supplies to automobiles in the national capital.
Around Rs 40,000 crore (Rs 400 billion) investment in the power sector is in limbo for want of government decision on allocation of natural gas to the proposed electricity stations.
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.
The government on Friday said allocation of natural gas to companies like Anil Ambani Group's RNRL will depend on availability of the fuel after supplying to already designated users.
India was to host a meeting of experts in 2008 but it was postponed.
The total requirement of regassified-LNG for operation of Block number 2 and 3 at base load is 5.7 million standard cubic meters per day. However from December 14, suppliers of RLNG -- GAIL, Indian Oil, Bharat Petroleum -- are supplying only 4.506 mmscmd.
The Election Commission asked the government to defer announcement of the new price till completion of the polls and so RIL was asked to continue selling the gas at old rates.
Deora is believed to have explained the oil ministry's position on gas pricing and utilisation.
The latest Ambani-sibling fight has now become a political battle.
Oil and Natural Gas Corporation hopes to resume gas processing at its Hazira plant, whose closure due to floods had reduced the country's gas supplies by half, by August 14 or 15 as water has started receding from the facility.
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.
The tussle between Mukesh Ambani-led Reliance Industries and his brother Anil's Reliance Natural Resources over gas supply came to the fore in Bombay High Court on Thursday with RIL alleging that RNRL wanted to trade the fuel.
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.
The Maharashtra government is heavily banking upon Dabhol power plant to start functioning at its full capacity of 2,150 Mw to help the state tackle the 5,000 Mw shortage during peak summer season.
