Reports indicate that the union petroleum ministry adopted the terms of reference proposed by the finance ministry for the committee set up under former Planning Commission member Kirit S Parikh. Originally, the oil ministry had proposed that the committee be asked 'to revisit the current pricing methodology of import parity or trade parity' for petro
Author: admin (Infratructure Today)
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S&P expects improvement in EBITDA of ONGC
Andrew Wong, Credit Analyst at Standard & Poor's expects ONGC's EBITDA to improve by at least $2.0 billion each year on average from fiscal 2014-15 once India implements natural gas price increase. Therefore, the state-run energy explorer may strengthen its cash flow and profitability from the next fiscal year, exceeding the earlier expectations, he
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Ministry trying to rope in firm for TAPI project
Union petroleum ministry continues to look out for a global company that can lead a consortium for implementing the 1,680-km TAPI pipeline project. The proposed pipeline will start from the South Yolotan-Osman field in Turkmenistan, passing through the troubled Herat, Helmand and Kandahar regions in Afghanistan via Quetta and Multan in Pakistan and finally ending at Fazilka (Punjab) in
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Ministry note justifies gas price hike
An internal note circulated by the petroleum & natural gas ministry has justified the recent decision of the union cabinet to almost double the domestic natural gas price to $8.4 per unit. The note argued that the current price of $4.2 was not viable for Ćāsustenance of the domestic production of gas and all the operators are demanding an increase in price
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Price of GAIL’s gas import to depend on Henry Hub
The price of the shale gas that would be imported by state-run gas transportation firm GAIL India from the US starting 2016-17 would depend on Henry Hub prices to which shale gas price is linked. This price may most probably be around $10-11/mmBtu, media reports indicate. It may be recalled that GAIL India entered into an agreement with Cheniere Energy Partners to import 3.5 million tonne per annum (mn tpa) of LNG from the US s
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Minister seeks special dispensation for gas to power plants
Central government must give special dispensation for allocation of natural gas to power and fertiliser sectors, union Minister of State for Power Jyotiraditya Scindia informed reporters at Toronto. Scindia asserted that in terms of pricing, either in the form of subsidies or differential pricing, government must give special dispensation for supply of gas to these two sectors, the minister said
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CSL mulls Rs 20 bn investment to raise capacity
Media reports indicate that Cochin Shipyard (CSL) would invest almost Rs 2,000 crore towards its capacity expansion plan in the coming years by raising funds through an initial public offering (IPO). The company would raise part of the funds needed for this investment through the proposed IPO. The capacity expansion plan of the firm is part of its ambition to become a leading international shipbuilding and repair yard.
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Vizag port may invite fresh bids for Rs 6 bn project
Visakhapatnam Port Trust (VPT) would reportedly invite fresh price bids for the Rs 633-crore contract to extend the existing container terminal from 450 metre to 850 metre. The port had earlier invited the bids to extend the container terminal and add capacity of 0.54 million TEUs in addition to the existing 0.40 million TEUs. Currently, Visakhapatnam Container Terminal (VCTPL) is handling 247,133 TEUs per annum against the capacity of 4 lakh TEUs
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JNPT invites bids for wind energy plant
Agency reports indicate that Jawaharlal Nehru Port Trust (JNPT) invited bids from firms to set up a 7 mw wind power plant at a cost of Rs 48 crore to meet its energy requirement. The proposed plant may help the port save around 30 percent on energy costs, agency reports indicate. In order to reduce its dependence on power from outside sources, the port plans to set up renewable ener
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JNPT relaxes norms to attract more bidders for Rs 82 bn project
In order to attract more bidders for its proposed Rs 8,200 crore fourth container terminal project, the Jawaharlal Nehru Port Trust (JNPT) relaxed selection norms for contractors. The port authority invited initial bids for constructing the terminal with a capacity to load 4.8 million standard containers a year. That will make it India