While markets are upbeat over the government decision to nearly double the price of domestically produced natural gas, industry wants it to clearly lay the roadmap for free market pricing regime.
The Standing Committee on Petroleum and Natural Gas in a report tabled in Parliament said the proposed formula is a simple average of two methodologies -- price of imports of LNG into India by different suppliers, and weighted average of prices of natural gas prevailing at Henry Hub in USA, National Balancing Point in London and netback import price at the well head of suppliers into Japan.
Iranian gas, through a pipeline via Pakistan, will cost $2.40-2.49 per million British thermal unit at the Indian border, according to estimates by international consultants working on the 2775-km Iran-India pipeline project.
Petronet LNG Ltd, which completed construction of India's first LNG import terminal at Dahej in Gujarat, announced on Monday that it will float an initial public offering of 26.10 crore
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.
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.
Reviving stranded gas-based power plants and substituting diesel usage is a clear near-term opportunity.
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.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
French oil giant Total will take 26 per cent stake in Royal Dutch/Shell's $600 million Hazira liquefied natural gas import project in Gujarat.
The initial public offering for Power Trading Corporation has been oversubscribed by 3.13 times while that of Petronet LNG Ltd has also evoked a strong response and received cumulative bids for 38.7 per cent of offer size.
Ras Laffan Liquefied Natural Gas Co Ltd (RasGas) of Qatar has pulled out of state-run National Thermal Power Corporation's tender for supply of 3 million tonnes of LNG for its power plants.
Finance Minister P Chidambaram has listed gas pricing as one of the issues he expects to resolve before the end of June.
India will shortly unveil a 'One Nation-One Card policy' for public transport that will entail connectivity between various modes of transport
Australia on Tuesday offered to sell LNG to India even as it said that high tariffs in several areas including coal and wool were proving prohibitive in increasing two-way trade.
Buses that run on battery, trucks that purr on LNG, and more from the stables of Tata Motors, Mahindras and Ashok Leyland. The Auto Expo 2018 had these and more.
As far as rolling stock programme is concerned, the announcement will be made for manufacturing of 4200 new coaches including 600 LHB coaches in the Rail Budget.
The Ministry in a draft Cabinet note proposed accepting in toto the Rangarajan Committee recommendation of pricing domestically produced natural gas at an average of international hub prices and cost of imported LNG instead of present mechanism of market discovery.
Experts tell Ujjval Jauhari that investors need to be careful in picking stocks given high valuations and with markets possibly ignoring potential risks
Over two dozen companies have announced bonus issue so far in 2017
The Kerala chief minister's four years in office may well be remembered for the way he handled Cyclone Ockhi, two floods, Nipah, and now COVID-19, reports Shine Jacob.
The country may propose pipeline via China when Putin visits this year.
Russia has been grappling with sanctions slapped by the US and its allies over Moscow's invasion of Crimea.
Domestic output is stagnating and the expensive LNG will meet the rising energy demand of the growing economy.
Mumbai sources all of its gas requirement from domestic fields and as such there will be no cut in rates in the city.
Dabhol's assets will be demerged into the power plant and the LNG terminal.
5 commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of GST's purview given the revenue dependence of state governments on these sectors.
Wholesale inflation shot up to a 30-month high of 5.25 per cent in January as rising global crude oil prices spiked domestic fuel cost, even as food prices moderated.
Reliance Industries has sought tripling of its KG-D6 gas price from April 1, 2014 after the current below market rate of USD 4.205 per mmBtu expires.
The group companies now lead the market capitalisation league table in sectors such as ports, power generation, gas distribution and transmission, and power transmission and distribution, ahead of incumbents in both public and private sector. This has Gautam Adani family the second wealthiest in business in India.
Among PSBs, the top gainers have been Union Bank of India and Corporation Bank, whose shares have rallied more than 15% each. Indian Bank and Bank of Baroda, too, registered double-digit rise
India has evinced interest in building refineries and petrochemical plants in Iraq and is keen to source liquefied natural gas (LNG) from its second largest oil supplier.
Currently, the gas pipelines have a capacity to transport 230 mmscmd of gas.
Pooling will also kick-start projects of Reliance Power, Torrent, Lanco.
The sale is key to meeting the government's disinvestment target of Rs 2.1 trillion in the financial year 2020-21. So far, the disinvestment exercise has fetched the government Rs 34,845 crore during the current financial year.
The department has proposed to pool prices of imported and domestically produced natural gas.
