Some industry observers suggest the government to liberalise natural gas sector in India in order to incentivise exploration and production by private companies. They point out that like in the US, if gas market is liberalised, it will help IndiaĂâs economy in more ways than what can be predicted. Some industry observers argue that producers will be attracted to invest in gas exploration including shale gas.
Tag: natural gas
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PNGRB to open bids for CGD project
Petroleum and Natural Gas Regulatory Board (PNGRB) would soon open the technical bids submitted by oil and gas firms for launching city gas distribution (CGD) business in key cities. After clearing the technical bids, the downstream regulator would open financial bids for the third round of auct
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Gas-based power plants need 72 mscmd gas
Media reports quoted a top source from the union power ministry as saying that natural gas-based power plants in the country need 72 mscmd of gas to operate at 75 per cent plant load factor. However, at present they get only 27 mscmd gas, which enable them to operate at only 29 per cent plant load factor, reports suggest
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Ministry gets request from OIL for gas revision
In order to meet the increasing cost of production and also to enable the proposed capital investment of over Rs 19,000 crore in the 12th Five Year Plan period (2012-17), Oil India (OIL) asked the union oil ministry to raise natural gas price. In a letter to the union oil ministry, the firm said its cost of production of natural gas from the nominated fields was increasing on sustained
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US govt allows export of LNG to non-FTA nations
Department of Energy of the US government gave conditional approval for export of locally produced LNG to non-FTA (free trade agreement) countries from Freeport Terminal on Quintana Island in Texas. The Department of Energy, in its 132 page order, said the proposed exports may result in net economic benefits to the U
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Ministry circulates note seeking hike in gas price
Union Petroleum ministry has circulated a note to the Cabinet Committee on Economic Affairs (CCEA) seeking hike in the price of natural gas produced by both private and state-run companies. The ministry's proposal, if accepted by the CCEA, may benefit firms like ONGC, OIL, Reliance Industries (RIL), Cairn India who are selling the fuel at a pre-determined price
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GVK Power has Rs 160 bn debt
GVK Power and Infrastructure sits on a total consolidated debt of Rs 16,000 crore, according to the earnings results released by the company. Although this is lower than the debt level of some other companies in the infrastructure sector, interest cost on the debt is a huge drag on the firm's balance sheet. GMR Infrastructure, which is a peer company of GVK,
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ONGC adds reserves in FY13
State-run oil and gas explorer ONGC added initial-in-place reserves of 265.65 million tonne oil plus oil-equivalent gas during 2012-13. According to internal assessment, this would mean ultimate reserves of 84.84 million tonne of oil plus oil-equivalent gas. Currently, the firm produces 44-45 million tonne of oil plus oil-equivalent gas. The firm has much more oil, as well as oil-equivalent gas because of the discoveries mad
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Environment ministry clears ToR for report on Rs 99 bn project
Following the recommendation from an expert committee, the ministry of environment and forests (MoEF) approved the terms of references (ToR) for preparing environment impact report for the proposed 2,200 mw gas based project of ONGC. Oil & Natural Gas Corporation (ONGC) plans to set up the gas based power plant, which is second for the company after its 726 mw Tripura plant, in Maharashtra at a
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Oil ministry to send proposal on gas pricing to cabinet
Union petroleum Minister Veerappa Moily informed that he would send the final proposal on the pricing of natural gas to the cabinet committee on economic affairs (CCEA) soon. Industry players are keenly awaiting the government's decision on natural gas pricing as it would have a bearing on their financials. Natural gas producers like Reliance Industries (RIL) are seeking hike in the price of do