The Petroleum Ministry in an order on Wednesday said it has revised guidelines for allocation/supply of domestic natural gas to city gas distribution entities for CNG and piped cooking gas sector.
The prices of natural gas for power and fertiliser units are likely to be raised by 12.5 per cent to Rs 3,600 per thousand cubic metres in July, according to oil secretary M.S.Srinivasan.
Reliance Industries Chairman Mukesh Ambani met top government officials on Tuesday, including Cabinet Secretary and Principal Secretary to the prime minister, to explain his company's approach to pricing of natural gas to be produced from KG basin.
Lowering excise duty on petrol, diesel, and other fuels, branded fuels.
BPCL is a high revenue-earning public-sector undertaking (PSU) and plans to privatise it are completely off the table, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Tuesday after assuming charge of the ministry for the second time. "Why would we divest ourselves of highly successful Maharatnas like BPCL," Puri said, arguing the Centre was not in favour of divesting its stake in oil PSUs.
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.
Movie star-Minister Suresh Gopi visited Thane over the weekend to campaign for the ruling Mahayuti alliance in Maharashtra.
The growth of eight key infrastructure sectors rose to 5.2 per cent year-on-year in March due to improvement in the output of crude oil, cement and electricity, according to official data released on Tuesday. In 2023-24, the growth rate in the output of these eight sectors was 7.5 per cent, marginally down from 7.8 per cent recorded in the year-ago period.
CNG and piped cooking gas prices in cities such as Delhi and Mumbai may be hiked by 10-11 per cent next month as the government-dictated gas price is set to rise by about 76 per cent, ICICI Securities said in a report. The government, using rates prevalent in gas-surplus nations, fixes the price of natural gas produced by firms such as state-owned Oil and Natural Gas Corp (ONGC) from fields given to them on nomination basis, every six months. The next review is due on October 1.
The growth of eight key infrastructure sectors rose to a 14-month high of 12.1 per cent in August 2023 against 4.2 per cent a year ago, mainly due to expansion in production of coal, crude oil, and natural gas, according to the official data released on Friday. The expansion in August is the highest since June 2022, when it was 13.2 per cent. The production of refinery products, steel, cement and electricity also grew in August, the data showed.
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.
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.
Trump spoke approvingly of his recent telephone conversation with Xi Jinping. This could indicate the possibility of America and China reaching some level of tactical accommodation, which would not be good news for India, points out Ambassador Shyam Saran, a former foreign secretary.
The growth of eight key infrastructure sectors slowed down to 4.3 per cent in May 2023 due to a decline in the production of crude oil, natural gas and electricity, according to the data released by the government on Friday. The core sector growth was 19.3 per cent in May 2022, while in April 2023, the key infra sectors recorded a growth rate of 4.3 per cent. During April-May this fiscal, the output growth of these eight sectors slowed down to 4.3 per cent against 14.3 per cent in the year-ago period, the data showed.
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.
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.
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.
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.
10 largecaps stocks which stand to gain from the Budget.
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 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.
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.
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'.
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.
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.
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.
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.
State-owned Indian Strategic Petroleum Reserves Ltd (ISPRL), which operates India's strategic crude oil storage, will make awards by December to lease around 1 million tons of crude oil storage space (7.3 million barrels) at two of the country's three existing Strategic Petroleum Reserves (SPRs), around a fifth of the total SPR capacity. This will enable the refilling of crude caverns even as escalating hostilities in the Gulf threaten disruptions in crude supplies, two industry sources said.
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.
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