UBS Investment Research in its latest report estimated that ONGC and GSPC may get at least $5.5 per million British thermal unit for natural gas they will pump out from their respective Krishna-Godavari basin blocks. RIL is to get a fixed price of $4.2 per mmBtu for gas it would produce from Dhirubhai-1 and 3 fields in KG-D6 block from December-January, for the next five years.
After GAIL, Indian Oil Corp has expressed interest in buying out Asian Development Bank's 5.2 per cent stake in Petronet LNG Ltd, company chairman Sarthak Behuria said. However, if the state-run promoters of Petronet are not allowed to raise stake in the company for fear of it becoming a public sector unit, Behuria suggested selling ADB's shareholding to the public.
The 1,967 MW plant has not been operating since August because of stoppage of natural gas supplies from domestic fields.
ONGC and the Hinduja group are lining up investment of close to $20 billion in exploration assets in Iran and a refinery and LNG terminal in India.
Reliance Industries has made drastic changes in gas supply contracts that will jack up its KG-D6 gas price by 10 per cent over and above the new rate of $8.3 coming into effect from next month.
India is being increasingly marginalised in Iran's energy sector for reasons which range from political to economic. Its attempts at securing oil and gas blocks in the country and importing gas (as LNG and through a pipeline) seem to be hitting a dead end. The latest setback for India is the agreement between Iran and Chinese Sinopec for the Yadavaran oil and gas field. This effectively pushes out ONGC Videsh - the government's overseas acquisition vehicle.
"I think very soon. We are doing very well. (US Trade Representative) Robert Lighthizer who is right here negotiating with India... I think, very soon we will have a trade deal," Trump told reporters when asked if there is any trade deal is expected between India and the US.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
Holding the Centre responsible for putting Gujarat in a tricky situation, state Petrochemicals Minister Saurabh Patel on Monday informed the Assembly that with the scrapping of gas purchase agreements, Gujarat would not be able to get gas from April this year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The bank guarantee, which will be equivalent to the incremental revenue that RIL will get from the new gas price, will be encashed if it is proved that the company hoarded gas or deliberately suppressed production at the main D1&D3 fields in the eastern offshore KG-D6 block since 2010-11.
New Delhi The government has decided not to sell the Dabhol power plant, which has been struggling thanks to huge debts it owes to the contractors.
Ratnagiri Gas and Power Pvt Ltd, the joint venture of state-run GAIL India and NTPC Ltd which owns the 2,150-MW power plant and the adjoining LNG import terminal, plans an IPO to raise Rs 1,000 crore (Rs 10 billion), company Chairman R K Goel told reporters in New Delhi. The Dabhol plant will be fully operational by next month when the third generating unit is commissioned, he said adding that currently, two units were generating about 1,100 MW electricity.
Delhi's power problems could go for a toss if Gas Sales Agreement that GAIL (India) Limited has inked with Pragati Power Corporation Limited to supply 2 MMSCMD of R-LNG becomes operational. The peak demand for electricity in Delhi is slated to grow from the current 4100 MW to 5630 MW in 2010 as per the estimation of Central Electricity Authority.
Many stalled projects are about to get going again, providing potential relief to banks, says T N Ninan.
Before the MCC came into effect, Modi was busy laying stones, cutting ribbons, and unveiling plaques across the country.
Steel tycoon Lakshmi N Mittal's acquisition of 49 per cent stake in Hindustan Petroleum Corp's $3 billion Bhatinda refinery has violated his pact with Oil and Natural Gas Corp
Finance Ministry has written to the Power Ministry asking to freeze the completion costs of Dabhol plant.
New recast plan calls for more loan rate cuts and lower equity returns.
GAIL (India) Ltd has agreed to infuse an additional Rs 500 crore (Rs 5 billion) into Ratnagiri Gas and Power Pvt Ltd to enable the owner of the beleaguered Dabhol plant to clear pending dues of contractors.
The agreement on pricing last month marks a significant step towards promoting energy security in the region, say Nisha Taneja & Samridhi Bimal.
The first stretch of Dahej-Panvel-Dabhol pipeline, which will feed natural gas to the beleaguered Dabhol power project in Maharashtra, has been commissioned.
The plant will start functioning to its fullest by the end of January 2008, after delay of one-month from previous schedule.
A joint venture agreement between GAIL (India) Limited and China Gas Holdings Limited to foray into natural gas
The government on Friday gave its nod to ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp, to acquire Royal Dutch/Shell's 33 per cent stake in a deepsea gas field off Egypt.
The Rs 3,200-crore (Rs 32 billion) Hazira LNG Pvt Ltd is expecting to land itself long term gas supply contracts to various domestic fertiliser and power producers, including the Dabhol project, by the end of this year.
The Ratnagiri Gas and Power Pvt Ltd is likely to get gas for power production by June-end, GAIL (India) chairman UB Choubey said.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Maharashtra on Monday said the LNG pipeline for supplying gas to the beleaguered Ratnagiri (erstwhile Dabhol) power plant would be completed by April this year after which the cost of power would work out to be Rs 3 per unit.
Maharashtra Chief Minister Vilasrao Deshmukh met Petroleum Minister Murli Deora Wednesday to request for alternative sources of gas for the state's Ratnagiri plant.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The pipeline deal could be signed by this yearend.
Indications emerged on Friday on the possibility of India and Iran reviving an LNG deal struck last year, with Tehran offering a new price and New Delhi saying it was willing to raise its offer slightly.
The government's clarification came following reports that Iran has conveyed that the $21-billion deal to supply LNG was off following India voting in favour of the IAEA resolution.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ratnagiri Gas and Power Pvt Ltd, the new owner of the Dabhol power project,
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