India may dump Iran for Yemen and Qatar as a possible source of liquefied natural gas after the ministerial level talks failed to finalise a deal for New Delhi to buy five million tonnes of LNG.
India has given a four-month ultimatum to Iran to offer a discovered oil field if it wanted to export 5 million tonnes of liquefied natural gas to New Delhi.
Royal Dutch/Shell is likely to bid along with French oil giant Total for the state-run National Thermal Power Corporation's mega LNG supply tender.
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.
Petronet LNG Ltd, India's largest liquefied natural gas importer, expects to sign a contract by the end of July for import of 2.5 million tonnes of LNG from Chevron Corp's Gorgon project in Australia.
Iran has changed its pricing formulae for liquefied natural gas sale to India and is demanding 28 cents more per million British thermal unit (mBtu).
Petroleum Minister Mani Shankar Aiyar will visit Tehran early next week to salvage the LNG-for-oil field deal, which hit an obstacle after Iran sought a very high price for liquefied natural gas it plans to sell to India.
India is likely to seal a LNG-for-oilfield deal with Iran this week wherein New Delhi will buy five million tonnes of liquefied natural gas from Iran in exchange of Tehran offering it a stake in an oil field.
Royal Dutch/Shell said on Wednesday that it will open up its first petrol station in India by the end on 2004 and begin importing liquefied natural gas in the first quarter of 2005.
The new government may also introduce a separate scheme for revival of stranded gas-based power projects
National Thermal Power Corporation has extended by two weeks to May 12 the last date for bidding for its mega LNG supply tender, to enable Royal Dutch/Shell to cobble a joint bid with French oil giant Total.
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 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 Limited is expected to deliver liquefied natural gas from its Dahej terminal at Rs 6,567 per million standard cubic metres (mscm), provided the international price of crude remains at $16 a barrel.\n\n\n\n
RIL has more than half a dozen undeveloped discoveries.
Iran has sought a 20 per cent increase in price for the additional 2.5 million tonnes per annum of liquefied natural gas that India wants to buy, over and above the five million tonnes contracted earlier this week.
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.
Oil and Natural Gas Corporation, through its consortium partner in the Sakhalin-1 field in Russia Exxon Mobil, is in talks with Royal Dutch Shell for liquefying the gas from the fields before it is exported to China.
India's net oil import bill could widen to $101-104 billion in current fiscal from $96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of $7.9 billion in 11 months (April-February) of 2023-24, up from $5.1 billion in 2022-23.
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.
Cabinet may tweak Rangarajan formula; new price may be further delayed.
Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director to its board in signs it may be looking at boosting trade links with India. G K Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of directors of Rosneft, according to a statement issued by the Russian firm. Satish, 62, is the first Indian to be appointed to the board of Rosneft.
The reserves in Farzad-B are almost thrice the largest gas field in India.
About two dozen discoveries of the state-owned ONGC, Reliance Industries and the Gujarat State Petroleum Corp (GSPC) in KG Basin alone are languishing for want of right price.
A swift recovery in oil demand in India is not only helping the stability of the global market, it is giving huge fiscal headroom to the government in terms of additional excise duty.
France's TotalEnergies has put on hold a planned investment in Adani Group's $50 billion hydrogen project pending results of an audit launched following allegations by a US short-seller, chief executive Patrick Pouyann said on Wednesday. While the partnership where the French oil giant was to take a 25 per cent stake in the hydrogen venture of the Adani group was announced in June last year, TotalEnergies has not yet signed a contract, he said at an earnings call. "Obviously, the hydrogen project will be put on hold until we have clarity" from Adani group on the allegation levelled by US short-seller Hindenburg Research, Pouyanne said.
The cost of CNG, which will be reduced by up to Rs 15 per kg in the next few days following a rejig in natural gas allocation, will go up by Rs 10.6 a kg in April, when domestic gas prices almost double.
Israeli Prime Minister Benjamin Netanyahu termed it the 'largest cooperation project in our history', one that would 'change the face of the Middle East, Israel, and impact the entire world'.
According to reports, by last year, the company has helped its customers save 15 per cent on costs -- around 5-6 per cent on fuel and 15 per cent on fleet utilisation through digital measures.
The scheme will cost the state exchequer altogether Rs 1,650 crore.
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