In a report, Goldman Sachs said the government would stand to gain Rs 14,900 crore by way of royalties and taxes from the incremental gas price accruing to state-owned producers ONGC and Oil India in 2014-15 fiscal. The report said, "We note about 65 percent of incremental gas revenue from a price hike would flow back to the central and state governments as royalties, VAT,
Tag: natural gas
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RIL to ramp up gas output from $6.5 bn investment
By 2019-20, Reliance Industries (RIL) aims to ramp up natural gas production from its KG-D6 fields to 60 mmscmd and to achieve this the firm plans to invest $6.5 billion. Owing to water and sand ingress in some of the wells, gas output from the fields declined to around 14 mmscmd recently from a peak of 69.43 mmscmd in March 2010
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Govt may not give significant gas to power sector
An Empowered Group of Ministers (EGoM) may not give any significant natural gas to the fuel-starved power producing units in the country till domestic production rises in 2016-17. Over $21 billion power plants are stranded for want of fuel. The EGoM headed by Defence Minister AK Antony is to meet shortly to squeeze out some gas from current year output of 105 million standard cubic meters a day for the power plants.
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Additional gas to be made available by ONGC, GSPC
ONGC and GSPC would be able to produce about 4-5 mmscmd of additional natural from their fields in 2013-14. A similar additional volume may be available in the next fiscal and a further 2 mmscmd from GSPC in 2015-16. This additional output will have to make up for fall in KG-D6 this fiscal and the next as also meet 3.8 mmscmd need of 5 newly converted fertiliser plants for whom allocation had previously been approved by the cabinet and
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Panel suggests govt to conduct due diligence
A Parliamentary panel report shows that the government has not conducted any due diligence before clearing the proposal to hike domestic natural gas price in line with the Rangarajan committee recommendation. According to the report, submitted by the parliamentary standing committee on finance,
the
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GAIL to await govt decision on pipeline project
BC Tripathi, Chairman of GAIL (India) said the firm would wait one month for the Tamil Nadu government to take a decision on the company's natural gas pipeline project which passes through the state. GAIL is implementing an ambitous Kochi-Koottanad-Bangalore-Mangalore natural gas pipeline project and it passes through seven districts in Tamil Nadu — Coimbatore, Tirupur, Erode, Namakkal, Sale
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India in talks with Pak to export natural gas via pipeline
To export natural gas to Pakistan through a pipeline from its Punjab state, India is in talks with the neighbouring country to help it overcome crippling energy shortage. India's State gas utility GAIL has proposed to lay a 110-km pipeline from Jalandhar to Wagah border via Amritsar to supply natural gas to Pakistan, GAIL Chairman and Managing Director BC Tripathi has said.
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Petronet plans to operationalise phase I of terminal project by Aug
According to media reports, Petronet LNG may operationalise its Phase-I of the natural gas terminal at Kochi by the end of August 2013. The company, which initially planned to commission the project during March 2013, faced several roadblocks.
Work on the project in the southern end of Vypin island
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Minister asks firms to invest in oil and gas sector
The Petroleum Minister for Petroleum and Natural Gas M Veerappa Moily has emphasised the need for greater investment in the oil and gas sector. He said this while addressing an Assocham Seminar on Indian Economy in the context of global energy scenario. The minister said the government was committed to deal with the energy security issues. It is in this context that the gas pricing formula was recently revised based on th
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RIL proposes $16-bn investment if pricing regime is favourable
An investment of $16 billion is proposed by Reliance Industries (RIL) on exploration and production of oil and gas in its fields in the next five years. The company expects to tap 3-4 trillion cubic feet (tcf) of gas through this investment. But the company feels that its investment would not be recoverable if the price calculated under the Rangarajan committee formula is