State-owned Oil and Natural Gas Corporation (ONGC) expects a USD 10.3 billion revenue boost from increased oil and gas production, achieved through a partnership with UK's BP in the Mumbai High field.
After Delhi, CNG price in Mumbai has been hiked by Rs 1.50 per kg and the rate of cooking gas piped to houses by Re 1 due to rise in input costs. Mahanagar Gas Ltd, which retails CNG to automobiles and piped natural gas to households for cooking purposes in Mumbai and surrounding cities, said the increased prices will come into effect from the intervening night of July 8 and 9.
The government may for the first time in about five years raise price of natural gas produced by state-owned firms like Oil and Natural Gas Corporation after the finance ministry and the Planning Commission backed the proposal for a 30 per cent hike.
With nearly 100 launches and unveils, the Bharat Mobility Global Expo 2025, held in Delhi from January 17 to 22, made one thing clear to automobile enthusiasts: Electric vehicles (EVs) are the way ahead for the Indian auto market for years to come.
Deora, who met Mukherjee on Monday afternoon to present his ministry's Budget wishlist, also discussed the deregulation of fuel prices.
The Union petroleum ministry has proposed a 44 per cent increase in prices of natural gas sold under the administered price mechanism by state-owned Oil & Natural Gas Corporation and Oil India Ltd.
5 MMTPA LNG terminal in Dabhol will be fully operational in 2013-14
'When so many young Baloch men and women are willingly volunteering as fighters and even suicide bombers.'
Petroleum minister Murli Deora discussed the idea of levy of $0.20 per million British thermal unit as cess on natural gas to mop up Rs 3,000 crore (Rs 30 billion) annually for laying down the gas pipeline network with CEOs of state-run firms. The brainstorming session called to chalk out the 100-day plan for the new government also decided on launching a new Scheme of Rural LPG Distributor (Gramin LPG Vitrak), petroleum secretary R S Pandey said.
The Delhi government has announced that vehicles older than 15 years will be denied fuel at petrol pumps starting April 1.
Questioning the idea of market-determined prices for natural gas favoured by the petroleum ministry, the Planning Commission said on Tuesday that given the shortage of the fuel, the government had a role to play.
United States President Donald Trump on Thursday announced the extradition of the 26/11 Mumbai terror attack accused Tahawwur Rana to India and said he will face justice.
Leading oil companies dedicated the second day of India Energy Week (IEW) 2025 to announcing strategic deals and business agreements across the supply chain - from sourcing more crude oil supply to deploying more domestic ships and building gas distribution capacity.
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
The field operations are on in the sub-Himalayan terai region stretching from the Gorakhpur district in eastern UP to Bijnore district in western UP. The two companies were given prospecting licences sometime back, he informed. The licence allows the licence holder to undertake mineral substance prospecting works within a specific area.
The new government on June 25 decided to defer the implementation till September-end to hold wider consultations.
The government on Monday scrapped 30-month old windfall profit tax on domestically-produced crude oil and on export of jet fuel (ATF), diesel and petrol following a decline in international oil prices. Minister of State for Finance Pankaj Chaudhary tabled a notification in Rajya Sabha scrapping the levy on crude oil produced by firms like state-owned Oil and Natural Gas Corporation (ONGC) and exports of fuels done by companies like Reliance Industries Ltd.
India on Tuesday opened its largest oil and gas bid round, offering 25 blocks covering 1.91 lakh square kilometers mostly in offshore area, as the government looks to boost domestic production to cut imports and help energy security. Petroleum Minister Hardeep Singh Puri launched the 10th bid round under the Open Acreage Licensing Policy (OALP) at the India Energy Week (IEW) in Mumbai.
The White House website had a new look with the bold banner headline 'America is back' seconds after Trump was sworn in as the 47th President of the United States on Monday.
Opposition parties in the Indian Parliament walked out of the Rajya Sabha after their demand for an immediate discussion on the alleged mismanagement at the Maha Kumbh, where a stampede led to several deaths, was rejected. The Chairman of the Rajya Sabha, Jagdeep Dhankhar, declined to suspend the scheduled business of the day to take up the issue, citing his previous rulings regarding notices under Rule 267.
India is preoccupied with analysing the US sanctions, which may cut off India's access to discounted Russian crude and force it to buy at market prices.
India's electric vehicle (EV) industry hit a new milestone in 2024, with sales surging 26.5 per cent year-on-year to 1.94 million units as of December 29, according to Vahan data from the Ministry of Road Transport and Highways (MoRTH).
A group of ministers will meet on Tuesday to discuss hiking the natural gas price after four years of government cap, and may approve a Rs 400 per thousand cubic meters increase to Rs 3,250 per thousand cubic meters.
Those who stay in other countries illegally do not have any legal right to be there, Modi said.
The gas price revision will add to the bottomline of the two public sector companies -- Oil and Natural Gas Corporation and Oil India Ltd -- and will also yield additional revenue for the central and state governments.
Dudley, on a stop-over visit on way to Shanghai, along with Ambani drove to Planning Commission Deputy Chairman Montek Singh Ahluwalia's residence for a breakfast meeting this morning and had sought a meeting with Law Minister Ashwani Kumar.
French energy giant TotalEnergies SE on Monday said it will make no new financial contribution as part of its investments in Adani group companies till the Indian firm's founder is cleared of bribery charges. The energy giant said it was not aware of the investigation into the alleged corruption. TotalEnergies is one of the biggest foreign investors in billionaire Gautam Adani's business empire and had previously taken stakes in the group's renewable energy venture Adani Green Energy Ltd (AEGL) and city gas unit Adani Total Gas Ltd (ATGL).
'...he keeps his campaign promises, does what he said he will do which led to his huge victory.'
The quantities and price of $4.2 per mmBtu for gas under the GSPAs signed for five years are as approved by the government.
The Cabinet Committee on Economic Affairs may this week decide to price all domestically produced natural gas as per a formula suggested by a panel headed by Prime Minister's economic advisor C Rangarajan.
Fitch Ratings on Tuesday said a higher natural gas price will help improve Reliance Industries' profitability in 2014-15 fiscal and would lead it to invest more in raising production.
The hike in MAT will not be earnings dilutive but will only be cash flow dilutive.
Of Trump's reciprocal tariffs and trade deals
The Budget has given signals that India is sensitive to the US needs and willing to walk the extra mile, but if need be, we should respond in equal measure as a sovereign nation, notes Ajay Srivastava.
The petroleum ministry has prepared a draft Cabinet note for raising prices of natural gas produced by ONGC from fields given to it on nomination basis to Rs 3,765 per thousand cubic metres (or $1.98 per million British thermal unit) from current Rs 3,200 per thousand cubic meter ($1.68 per mmBtu). For OIL, the gas price has been proposed at Rs 4,205 per thousand cubic meters, a senior ministry official said.
Companies like Reliance Industries, which plans to produce natural gas from KG basin from 2008, will have to invite bids from consumers to discover the price of output under a new exercise adopted by the government.
Reliance Industries has opposed a move to make marketing margin charged by it and other sellers of domestically produced natural gas uniform, while giving gasimporters a free hand, saying that it would be a gross discrimination.
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