According to sources from union oil ministry, the landed cost of the liquefied natural gas (LNG) to be sourced by the state-owned gas utility GAIL India from the US would be around $10.5 per mmBtu, based on the current Henry Hub price. Gas at US Henry, LA is currently traded at around $3.78 er mmBtu. In December 2011, GAIL entered into a pact with Houston-based Cheniere's Sabine Pass LNG terminal in w
Tag: import
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India imported 78% less ore in June quarter
Unconfirmed reports indicate that India imported 185,113 tonne of iron ore during April-June 3013 and this is 78 per cent lower than 826,372 tonne imported in the year-ago period. By the end of August, the government would officially release data on iron ore import, reports indicate.India was once the third-largest exporter of iron ore in the world, exporting about 98 million tonne, or 47 per cent
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India imports more crude oil from Nigeria
Over the last three months, India has been importing more crude oil from Nigeria than the United States, Indian High Commissioner to Nigeria Mahesh Sachdev informed. During a courtesy visit to the Governor of Niger state in northern Nigeria, he said India will continue to cooperate with Nigeria to improve its economy and it will also assist the country in capacity building of workers in both the publi
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Major ports witness rise in coal cargo
The 12 major ports in the country witnessed 43.96 percent rise in the handling of thermal coal cargo at 19 million tonne (mn t) during Apr-Jun 2013 from the year-ago period. This include mostly the import of thermal coal for power plants in the country. At a time when growth in the general cargo volume is stagnant across all major ports, the rise in the import of coal by domestic power producers may provide relief for these ports, reports
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ICTT receives Maersk main line vessel
The first direct Maersk main line service which has called at International Container Transshipment Terminal (ICTT) recently. ICTT received the mainline cargo vessel MV Newyorker with 1,185 twenty foot equivalent units (TEUs) of cashew from West Africa. The vessel, operated by the global shipping major Maersk Line, also has transshipment containers for Tutic
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Petronet considering GAIL proposal to renegotiate deal
Petronet LNG is said to be considering the proposal to renegotiate the Sale Purchase Agreement for natural gas it decided to source from Gorgon in Australia. GAIL India recently suggested Petronet to renegotiate the contract the latter entered into in August 2009 with Australia on grounds that the scenario changed worldwide since then
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OMCs to buy dollar from state-run banks
In order to contain volatility in rupee exchange rate, state-run oil marketing companies (OMCs) agreed to buy dollars for importing crude oil from a single public sector bank. This follows the direction by Reserve Bank of India (RBI) to these companies to use a special window for buying dollars
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Board may probe unloading of coal at Karwar port
Media reports indicate that the Karnataka Pollution Control Board would study the recent unloading of coal cargo at Karwar port. It is learnt that the port is prohibited from unloading coal as it would pollute sea water and endanger the fishes. The port recently received a consignment of coal cargo and this is said to be first ever import of coal in Karwar port in the past 20 years. TAN BINH 39, a ship with
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RBI may take steps to arrest rupee weakness
Some market analysts expect Reserve Bank of India (RBI) to take steps to arrest further depreciation of rupee against the dollar. In order to meet the demand for dollar to import crude oil by oil marketing companies (OMCs), RBI may look at opening a special window from where these firms could buy dollars. A large part of demand for dollar comes from OMCs and if this demand is eliminated from the m
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JSW hopes to operationalise new plant by Dec
Sajjan Jindal, Chairman and Managing Director of JSW Steel informed that the firm would begin production at its upcoming 2.3 million tonne plant in Bellary, Karnataka from December 2013. The company is setting up the plant specifically for the auto-industry and it would produce high-grade automotive steel