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.
Govt notification on $8.4 a unit price likely by month-end
The scheme will cost the state exchequer altogether Rs 1,650 crore.
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.
Almost all of these companies either unveiled their new electric vehicle or alternative energy-powered models.
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'.
Kajaria Ceramics, the country's leading listed tile manufacturer, has seen its stock fall by 7 per cent over the past month amid concerns about rising input costs and sluggish domestic demand. Other listed stocks also experienced weakness in September, although there was some recovery in October. While strong exports are expected to help stabilise domestic market prices, the surge in gas prices over the past couple of months may have impacted margins in the second half of FY24.
After grappling with the issue for two years, the Ministry of Petroleum and Natural Gas had on November 21 ordered that the margin to be charged, over and above the gas sale price, should be fixed between the seller and buyers in all sectors other than urea and LPG.
State-owned Oil and Natural Gas Corp (ONGC) will add about Rs 8,000 crore (Rs 80 billion) to its profits annually from near doubling of natural gas prices from next fiscal.
The agreement on pricing last month marks a significant step towards promoting energy security in the region, say Nisha Taneja & Samridhi Bimal.
Tightening Russian gas supplies to Europe has led to scramble for tankers before winter sets in.
Ratnagiri Gas will be an equal JV between NTPC and GAIL if MSEB which has been offered a small stake does not pick up equity
The country may propose pipeline via China when Putin visits this year.
Russia has defaulted on the supply of at least 5 cargoes or shiploads of LNG to India after its retaliatory sanctions hit one of the companies that supply gas to India, sources said. India's largest gas firm GAIL has a long-term deal to import 2.85 million tonnes of liquefied natural gas (LNG) per annum from a Singapore-based unit of Russian gas producer Gazprom. The company has since June defaulted on the supply of 5 cargoes of LNG under that contract citing difficulty in sourcing gas due to sanctions, two sources briefed on the matter said.
Terming Delhi Chief Minister Arvind Kejriwal ordering FIR against it as shocking, Reliance Industries said the complaints that were used to base the action are baseless and devoid of merit or substance.
Total, which had a few weeks back exited Royal Dutch Shell-led Hazira LNG import terminal in Gujarat, will join Adani in developing a 5 million tonnes a year import facility at Dhamra in Odisha. The two will also set up a joint venture to roll out a fuel retail network of 1,500 outlets, mostly on highways, in the next 10 years, Adani and Total said in a joint statement.
Piped cooking gas rates are also increased by Re 1 with effect from midnight.
In the 38-page report, across 10 chapters, RIL explained how it entered the exploration and production business; the history of the New Exploration and Licensing Policy and the introduction of production-sharing contracts.
Majority of PLL's long-term deals are linked to crude, which faces price challenge from other fuels. Spot LNG is moving away from this linkage, which puts a question mark on crude linked contracts.
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.
ONGC Videsh Ltd and Oil India Ltd will buy Videocon Industries' 10 per cent stake in a giant Mozambique gas field for $2.475 billion.
American refiners closed some of their production, leading to futures trade benchmarked to the West Texas Intermediate going negative.
Pradhan met Energy Secretary Rick Perry during an unscheduled trip to the US Capitol and discussed energy cooperation between India and the US, Indian investment in Liquefied natural gas and shale sectors, and the possibility of the US exporting LNG to India from early next year.
The Cabinet on Thursday decided to allow Reliance Industries to almost double the price of natural gas from April provided the firm gave a bank guarantee to cover its liability if gas-hoarding charges are proved.
A day after deciding to nearly double natural gas prices to $8, Finance Minister P Chidambaram on Friday hinted that power and fertiliser units may get gas at subsidised rates to keep electricity and urea costs down.
So far, GMTS has defaulted on the supply of more than 20 cargoes or shiploads, 13 of which were set to be received in the second quarter (July-September), officials said.
An empowered group of ministers headed by Defence Minister A K Antony is to consider an Oil Ministry proposal of abolishing the priority ranking later in the day, 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.
The capacity of the proposed facility, part of Indian Oil's Rs 56,000-cr investment plan during the 12th Plan, will be five mt a year.
In gifting the submarine to Myanmar, India is competing with China for influence in the region.
Three naval ships of China's Nanhai Fleet left a naval port in Sanya, Hainan Province on Wednesday, kicking off an annual combat drill in the South China Sea, East Indian Ocean and West Pacific, state-run Xinhua news agency reported.
The dreary, cold months from December to February may prove to be the undoing of many a nation as they grapple with sky-high fuel prices - a result of the Ukraine conflict and the pandemic. Many - Europe, South Korea, Japan, and China - will still pull through on the strength of their wealth or because of strong storage infrastructure. But India will have its back to the wall. Signs of liquefied natural gas (LNG) rates hitting new records this winter are already evident.
Union Minister Nitin Gadkari on Tuesday said if the US-based Tesla is ready to manufacture its electric vehicles in India then there is 'no problem' but the company must not import cars from China. In an interactive session at the Raisina Dialogue, Gadkari further said India is a large market and there is a huge potential for all electric vehicles. "If Elon Musk (Tesla CEO) is ready to manufacture in India then there is no problem ... Come to India, start manufacturing, India is a large market they can export from India," he said. The road transport and highways minister said his request to Musk is to come and manufacture in India.
Area residents and environmental groups have resisted the coal power plant ever since it was originally proposed in 2006 due to worries about land clearance and pollution
To increase gas availability for power plants, the Ministry of Petroleum and Natural Gas has taken various steps.
The 1,967 MW plant has not been operating since August because of stoppage of natural gas supplies from domestic fields.
The first on the list is Hussain Shaheed Suhrawardy, a Bengali politician from then East Pakistan who served as the fifth prime minister. He was arrested in January 1962 and put in jail on bogus charges of "anti-state activities". His actual crime was his refusal to support military ruler General Ayub Khan.
Russia has welcomed India's decision to not support the price cap on Russian oil announced by G7 and its allies and offered it cooperation on leasing and building large-capacity ships to overcome the ban on insurance services and tanker chartering in the European Union and Britain to continue buying discounted oil. The offer came as Russian Deputy Prime Minister Alexander Novak held a meeting with the Indian Ambassador to Moscow, Pavan Kapoor, on Friday. "The Deputy Prime Minister welcomed India's decision not to support the price cap on Russian oil, which was imposed on December 5 by the G7 countries and their allies," the Russian foreign ministry said in a statement.
This supply is likely to start in the next few weeks. A proposal to hive off the terminal was turned down by the government last year after it was opposed by NTPC Ltd and Gail, which hold 28 per cent each in the project. The terminal has an LNG regassification capacity of five million tonnes per annum. It will, however, be fully operational only after the completion of the breakwater facilities in 2011.
Gas pricing guidelines stipulate that a new gas price will apply to all producers except RIL.
Keshav Joshi's tongue in cheek look at Narendra Modi's mega plans.
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