GAS
Gujarat Gas hikes CNG prices by Rs 1.5 per kg
Gujarat Gas has increased CNG prices by Rs 1.5 per kg, making it Rs 77.76 per kg starting December 1. This is the third hike in recent months, affecting over four lakh CNG vehicle users in South Gujarat. The rise in prices is expected to impact transportation costs, particularly for auto-rickshaws and school vans.
GAIL signs long-term charter contract with K-Line for LNG ship
GAIL has signed a long-term charter agreement with Kawasaki Kisen Kaisha for a new LNG ship to be operational in 2027. The ship will be built by Samsung Heavy Industries and will have a tank capacity of 1,74,000 cubic metres. This new vessel will join GAIL's existing fleet to transport liquefied natural gas.
City gas cos feel the heat as domestic gas share shrinks
City gas companies are receiving less cheaper domestic gas due to government cuts and new pricing policies. APM gas allocation has been reduced, and new well gas is priced higher. This is increasing costs for city gas distributors. In April, APM price ceiling will rise further, potentially raising costs further while LNG spot prices might drop in summer.
Finance Ministry rethinks windfall tax; Oil Ministry for natural gas under GST
The finance ministry is assessing the windfall tax on petrol, diesel, and aviation fuel exports. It is also considering bringing natural gas under GST. This follows the oil ministry's request to remove the tax. A proposal might be placed before the GST Council in the December 21 meeting. These measures aim to reduce tax burdens and boost consumer prices.
RIL subsidiary acquires 21% stake in US-based Wavetech Helium for $12 million
Reliance Industries' subsidiary has invested $12 million in Wavetech Helium, acquiring a 21% stake. This US-based company explores and produces helium, a crucial element for various sectors including healthcare, technology, and aerospace. Reliance aims to expand its low-carbon solutions portfolio with this strategic move.
ONGC makes four oil discoveries in Ashokenagar, awaits mining lease from Bengal govt
ONGC discovered oil near Asokenagar, West Bengal, six years ago and has made four additional discoveries since. However, development is stalled pending a petroleum mining lease from the West Bengal government, despite central government recommendations and repeated follow-ups.
- Go To Page 1
ONGC in talks with domestic shipyards for two offshore rigs
India's Oil and Natural Gas Corp (ONGC) is initiating discussions with domestic shipyards to construct two offshore jack-up drilling rigs, costing approximately $500-550 million. This investment aims to replace ONGC's aging rigs, some over four decades old, and bolster Indian shipyards' capacity to build advanced offshore rigs, a capability dormant since 1990.
CNG gets expensive for Mumbai and other cities after price hike; poll-bound Delhi spared
Ahead of the upcoming elections in Delhi, CNG prices in Mumbai and several other cities across the country have been increased by Rs 2 per kg, according to city gas companies. Indraprastha Gas Ltd, which supplies CNG to vehicles and natural gas to households for cooking in Delhi and nearby areas, raised the price of CNG by Rs 2 per kg over the weekend.
Vedanta Aluminium signs pact with GAIL for supply of natural gas
Vedanta Aluminium partners with GAIL Gas Ltd to supply natural gas to its Jharsuguda smelter, aiming to reduce carbon emissions by 47,292 tonnes annually. The transition, operational by the end of next year, supports Vedanta's commitment to net-zero emissions by 2050 through cleaner energy solutions.
TotalEnergies, Oil India to collaborate on methane emissions detection
TotalEnergies and Oil India Ltd (OIL) partnered to detect and measure methane emissions at OIL's sites using TotalEnergies' AUSEA technology. This collaboration aligns with the Oil and Gas Decarbonization Charter, which both companies support, aiming for near-zero methane emissions by 2030. AUSEA, a drone-mounted gas analyzer, represents a significant advancement in emissions detection and measurement accuracy.
Corporate Infotech bags seven-year contract from ONGC for IT infra services
Corporate Infotech Pvt Ltd (CIPL) secured a seven-year, Rs 98 crore contract from Oil and Natural Gas Corporation (ONGC) to revamp ONGC's IT infrastructure. The project aims to enhance ONGC's IT hardware at its Delhi data center and Gujarat disaster recovery site. This partnership will ensure seamless data replication, disaster recovery, and application management services for ONGC.
Delhi HC seeks response from Norway's Pure E&P on ONGC's Rs 252 crore arbitration award
ONGC petitioned the Delhi High Court to enforce a Rs 252 crore arbitral award granted against Norway's Pure E&P. The court ordered DNB Bank to freeze funds in Pure E&P's escrow account. ONGC claims Pure E&P still owes over Rs 137.64 crore, disputing the latter's assertion of full payment.
CNG retailers want price hike, govt wants to see cost
City gas companies in India, including IGL and Adani Total Gas, are considering raising CNG prices due to reduced supplies of cheaper natural gas. Government officials argue that these companies have substantial profit margins and should absorb the increased costs instead of passing them on to consumers.
Russia cuts gas to Austria in payment dispute, keeps EU flows
Gazprom, Russia's state-owned energy giant, has cut off gas supplies to Austria following a payment dispute with OMV, Austria's largest energy provider. Despite this, Russia continues to supply gas to Europe through Ukraine, with other buyers increasing their orders.
More cuts in domestic gas supply to CNG firms, IGL says to impact profitability
Indraprastha Gas Ltd (IGL) has announced a second reduction in domestically produced natural gas supply, impacting CNG availability and potentially leading to price hikes. This cut, effective November 16th, follows a similar reduction in October, impacting IGL's profitability and forcing them to explore alternative solutions.
If production, transport and insurance costs are constant, fuel will be cheaper: Oil minister Hardeep Singh Puri
The Indian government is considering separating natural gas transportation and marketing. Oil Minister Hardeep Singh Puri said the government is open to the idea but will proceed carefully. Puri mentioned the progress on including natural gas under GST. He also discussed fuel prices, the impact of the US election on global conflicts, and the BJP's performance in Punjab.
Delhi HC upholds order directing GAIL to pay $7.2 mn to Jindal Saw
The Delhi High Court has ruled in favor of Jindal Saw Ltd in a long-standing dispute with GAIL (India). The court upheld a 2002 arbitration award that obligated GAIL to pay $7.2 million plus interest to Jindal Saw. The dispute stemmed from a 1994 contract for a gas pipeline project.
Govt not in a hurry to unbundle natural gas transport, marketing: Oil minister Puri
India's oil minister, Hardeep Singh Puri, has indicated the government's openness to separating natural gas transport and marketing operations. However, he stressed the need to proceed cautiously to avoid accusations of favoring entities that haven't invested in pipeline infrastructure. Puri also highlighted progress in bringing natural gas under the GST regime, citing growing acceptance from states.
GAIL signs a 10-year LNG deal with ADNOC Gas
India's state-run GAIL has secured a 10-year LNG supply deal with ADNOC Gas of the UAE. The agreement will see GAIL purchase up to 0.52 million metric tonnes of LNG annually, starting in 2026. This move aligns with India's goal to increase natural gas's share in its energy mix to 15% by 2030, amidst rising LNG demand.
India moving towards gas-based economy from import dependent crude based economy: Hardeep Puri
India is transitioning towards a gas-based economy to reduce its reliance on imported crude oil. The government is taking steps to increase domestic gas production, which saw an 18% rise last year. Incentives for gas producers and investments in the exploration and production sector are expected to further boost production, aiming for greater energy security and a cleaner energy future.
Exploration, monetisation of natural gas will benefit Northeast: IGX
India can reduce natural gas imports by utilizing deposits in the northeast. The region's surplus gas can supply other Indian regions and Bangladesh. This will generate revenue and boost the local economy. The Northeast Gas Grid, operational by 2026, will be instrumental in this endeavor. Natural gas is a cheaper and cleaner alternative to LPG, benefiting households and industries.
Northeast gas grid to be operational by 2026: Indian Gas Exchange CEO
The Northeast Natural Gas Grid, slated for completion by 2026, is set to unlock the region's vast natural gas reserves. This will boost India's energy security, allowing producers to sell surplus gas domestically and internationally. The grid will also attract new industries, create jobs, and provide cost-effective energy solutions for existing sectors like tea estates.
IGX MD Mediratta envisions efficient gas market in Northeast India
Indian Gas Exchange plans to integrate Northeast India's gas producers with national markets. This initiative will boost the region's economy and reduce reliance on gas imports. The move is expected to attract new industries, create jobs, and make gas more affordable for households.
Regulator looks to redefine PNG, insist on transport only by pipeline
The Petroleum and Natural Gas Regulatory Board (PNGRB) is revising its definition of piped natural gas (PNG) to exclude cascade and other non-pipeline delivery methods. This move aims to encourage pipeline infrastructure development and clarify exclusivity rights for city gas distributors, despite objections from some companies regarding potential impacts on work programs and existing supply agreements.
Cairn becomes India's 1st oil & gas co to join UNEP's OGMP 2.0
Cairn Oil & Gas joins UN's methane reduction initiative. Cairn is the first Indian oil and gas company to join OGMP 2.0. The partnership aims to reduce methane emissions in the oil and gas sector. Cairn will set a five-year methane reduction target. The company will report its progress transparently to OGMP. Cairn aims to achieve net-zero emissions by 2030.
ONGC draws a blank on offer of stake in Deen Dayal gas field
ONGC has failed for the third time to find a partner for the Deen Dayal gas field in the KG basin. The field, acquired from GSPC, has faced technical challenges and low productivity. Despite previous attempts and investments, no bids were received by the September deadline.
Adani Total Gas bets on LNG for transport and mining segments
Adani Total Gas (ATGL) is expanding its operations by entering the LNG for transport and mining segment, aiming to build a network of 50 LNG retail outlets. The company has already commissioned its first LNG station in Tamil Nadu, with plans to invest Rs 200-250 crore over the next three to five years.
ONGC ups capex at Rs 15,550 crore in Q2
Oil and Natural Gas Corporation has doubled its capital expenditure to ?15,550 crore in the second quarter. ONGC has spent ?23,550 crore in the first six months, moving closer to its annual capex target of ?30,800 crore. State-run oil companies together spent around ?67,000 crore in the first half of the fiscal year.
Lower APM gas allocation to raise cost of city gas cos by Rs 2-3/kg: Crisil
City gas distribution companies are set to face a rise in gas procurement costs by Rs 2-3 per kg due to a 20% reduction in APM gas allocation for CNG. To maintain supply, they will need to purchase from costlier sources, leading to potential increases in CNG selling prices.
Load More
