Petronet LNG, IndiaĂ´s leading gas importer, is in discussions with QatarĂ´s RasGas to tweak a decade-old liquefied natural gas (LNG) procurement deal. The Indian firm has been forced to cut down gas volumes from Qatar after the price of fuel bought through this long-term contract has become almost double the spot prices.
Category: Oil & Gas
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No headway in pipeline project
The ambitious Rs.10,000 cr gas pipeline project to Kashmir is caught in bureaucratic wrangles for the past three years as a proposed MoU between the state government and GSPL India Gasnet Limited (GIGL) Gujarat- the executing agency for the plan- is yet to be signed.
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LNG more viable than coal
India is already among the worldĂ´s largest energy consumers. Urbanisation, industrialisation, and the governmentĂ´s commitment to 24 x7 energy access for all imply that our need for power will continue to grow.
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IOC sells rare Kandla cargo
Indian Oil Corporation has sold 18,000-20,000 tonnes of naphtha for Oct 29 to Nov 3 loading from Kandla after cancelling a previous tender for the same cargo due to low bids, traders said.
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New gas-based plant at Yelahanka to start in 2018
Next time the thermal power plants in Udupi and Ballari stop production owing to technical problems, Bengaluru may not have to face power cuts. ItĂ´ll be in a more comfortable position once production begins in 2018 at the 350-MW gas-based power plant coming up in Yelahanka.
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Foreign fleet owners may gain
An Indian cabinet decision to decentralise shipping arrangements for import of cargo owned or controlled by government departments and state-owned firms will remove an assured business opportunity for local fleet owners.
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ONGC tender flooded with offers
State-run Oil and Natural Gas Corp (ONGC) has been swamped with offers in a tender it floated for hiring five deep sea rigs for its KG-basin gas block campaign.
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IndianOil targets full automation
IndianOil is on a programme to ensure all its outlets in the country are fully automated in five years. IOC has about 25,000 petrol pumps of which 8,800 are automated. Declaring its 53 petrol pumps in Coimbatore
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MSRTC files pliant against HPCL, BPCL, IOC
The Maharastra State Road Transport Corporation (MSRTC) has complained to state Legal Metrology Department (LMD), accusing HPCL, BPCL and IOC of Ă´short deliveryĂ´. Chief Vigilance Officer (CVO) of MSRTC Vineet Agrawal said a complaint was lodged with LMD on September 19.
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Govt slashes natural gas price by 16%
The government, at end September, cut natural gas prices by 16 per cent to $4.24 per unit for the six month period, beginning October 1. The price cut is the second reduction in rates ever, the first being on April 1.