Global brokerage firm CLSA has reversed its early tactical shift from Indian equities to Chinese stocks, and has decided to raise India allocation while cutting exposure to China. In its report titled 'Pouncing Tiger, Prevaricating Dragon', CLSA cited challenges facing Chinese markets in the aftermath of Donald Trump's victory in the US elections as the reason for the move. "Misfortune can happen in threes. So it has played out for Chinese equities over the past week.
Lowering excise duty on petrol, diesel, and other fuels, branded fuels.
Growth of eight key infrastructure sectors rose to 8 per cent in July 2023 compared to 4.8 per cent in the same month last year on expansion in production of coal, crude oil, and natural gas, according to the official data released on Thursday. Production of steel, cement and electricity also grew in July, the data showed.
The power and fertiliser companies should be prepared to pay higher prices of natural gas as the petroleum ministry favours economic pricing of the fuel, an official said on Thursday.
Growth of eight key infrastructure sectors slowed down to 8.2 per cent in June 2023 compared to the year-ago month due to a decline in the production of crude oil, according to the official data released on Monday.
The government on Wednesday more than doubled the price of natural gas produced by state-owned Oil and Natural Gas Corp (ONGC) and Oil India Ltd to $4.20 per mmBtu, at par with the rate at which Reliance sells its gas.
Wholesale inflation fell to a 4-month low of 1.31 per cent in August due to a decline in prices of vegetables and fuel, even though onion and potato prices spiked, according to official data released on Tuesday. Wholesale price index-based inflation fell for the second straight month in August after it hit a high of 3.43 per cent in May. Inflation in July was 2.04 per cent. In August last year, WPI inflation was (-) 0.46 per cent.
ONGC confirmed on discovering natural gas in KG basin off the Andhra Pradesh coast and Mahanadi basin off Orissa coast, but said the find in KG basin posts 'technological challenges' and it was on looking for a strategic partner.
Reliance Industries Ltd plans to invest over Rs 5,000 crore in setting up City Gas Distribution projects in eight cities in Maharashtra and Andhra Pradesh for supply of natural gas to households, industries and automobiles.
'The intensity and frequency of heatwaves will be much higher than in previous years over Punjab, Haryana, Rajasthan, Gujarat, Madhya Pradesh and Odisha.'
The production growth of eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 19.3 per cent in May 2022, the data showed. In June, the output of coal, refinery products, fertiliser, cement and electricity rose by 31.1 per cent, 15.1 per cent, 8.2 per cent, 19.4 per cent, and 15.5 per cent, respectively.
A major fire broke out at GAIL's natural gas pipeline in South Delhi's Satyaniketan area after it was perforated by civic construction contractors but there were no casualties reported.
Days after the Cabinet approved doubling of natural gas price from April next year, the Finance Ministry has written to Oil Ministry suggesting setting of a ceiling or an upper limit for the rates.
The government on Wednesday put off a proposal to hike natural gas prices by Rs 350 per thousand cubic meters until the second half of 2004.
"There is no change in situation. It may take a couple of days for the water to recede and restart of the facility," an ONGC official said.\n\n
The government had this month more than doubled RGPPL's allocation from KG-D6 to 5.67 million standard cubic meters per day that will help generate about 1,000 MW of electricity.
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.
Putin is keen on establishing a good personal rapport with Trump and anchor a meaningful US-Russia partnership, realistic enough to accept that Trump is as good an American president as Russia would ever get, observes Ambassador M K Bhadrakumar.
Production of eight infrastructure sectors increased by 5.4 per cent in November against a 3.2 per cent growth in the same month last year on a better show by coal, fertiliser, steel, cement and electricity segments, according to the official data released on Friday. Crude oil, natural gas and refinery products, however, recorded negative growth in November this year. The production growth of eight key sectors slowed down to 0.9 per cent in October.
The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, while hiking it on high-end wrist watches, shoes and apparels, besides considering a separate 35 per cent tax slab for sin goods. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
State-owned Oil and Natural Gas Corp (ONGC) has written to the Oil Ministry seeking appointment of an international expert to assess if Reliance Industries Ltd was drawing out any of its gas in KG basin.
Directorate General of Hydrocarbons Director General Rajiv Nayan Choubey did not take calls made for comments.
A bench headed by Chief Justice P Sathasivam sought response from CBI on the petition filed by Civil society members including former Cabinet Secretary T S R Subramanian and ex-Naval chief Admiral L Ramdas seeking probe by the agency in the alleged 'collusion between RIL and the political establishment'.
I'...additional concessions, such as opening government procurement, reducing agricultural subsidies, weakening patent protections, and allowing unrestricted data flows -- demands India has resisted for decades.'
The discovery was made in the west Tripura block in the Assam and Assam Arakan basin, the company said. Exploratory well Sundalbari-4 was drilled to a depth of 3,400 meters and flowed gas at the rate of 160,000 cubic meters per day. The gas contains upto 96.3 per cent methane, ONGC said, but did not give any estimates of potential reserves in the new discovery.
'Trump administration wanted a positive tone at this summit, but there was still some anxiety that there could be some awkward moments -- and there were not.'
CNG price in the national capital is cut by a steep Rs 14.90 per kg and cooking gas piped into kitchens by Rs 5 per unit with effect from midnight tonight.
India's top oil and gas producer ONGC on Friday reported a tripling of net profit in the June quarter as it earned record prices before the government slapped a tax on windfall profits arising from a global rally in energy rates. Oil and Natural Gas Corporation's (ONGC) standalone net profit at Rs 15,205.85 crore, or Rs 12.09 per share, in April-June, compared to Rs 4,334.75 crore, or Rs 3.45 a share, in the same period a year back, according to a stock exchange filing by the company. Sequentially, the profit was higher than the Rs 8,859.54 crore net profit of January-March.
Production at India's largest gas fields Bassein and Panna/Mukta and Tapti in Mumbai offshore has been stopped, following flooding of Oil and Natural Gas Corp's processing plant at Hazira in Gujarat.
ONGC Chairman and Managing Director R S Sharma on July 30 wrote to Petroleum Secretary M S Srinivasan seeking immediate hike in price of gas it sells under regulated regime as it was incurring Rs 700 crore (Rs 7 billion) loss on the business.
Government has set $4.20-per million British thermal unit as the selling price for D6 gas, but the Bombay high court last month asked RIL to supply gas to firms run by Anil Ambani Group at $2.34 per mmBtu, 44 per cent lower than the price fixed by the government.
Board would start selling the bid documents on November 22.
Adding petrol and diesel to GST was a challenging task due to their significant role as revenue generators for both the central and state governments.
Two years after it was first constituted, the Petroleum and Natural Gas Regulatory Board continues to move ahead in a patchy manner -- it is inviting bids for 2,800 km of cross-country pipelines and 1,200 km of spurlines next week; it is in the process of fixing tariffs for the Mukesh Ambani-owned Reliance Gas Transportation India Limited pipeline. Its chairman L Mansingh spoke at length on several of these issues to Sunil Jain.
'Putin dreams about his legacy. He wants to forcibly restore the Russian empire.' 'Unfortunately, after three years of large-scale war with massive human losses, Putin will not budge from his goal because human life is the cheapest resource in the Russian State.'
The gas pricing formula no weight to cost of gas production. It takes into account prices in global hubs and the price of gas being imported.
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