The government is taking steps to ascertain whether Reliance Industries (RIL) hoarded natural gas produced from KG-D6 field in anticipation of higher prices. In this regard, the government plans to appoint a reputed independent consultant. If the consultant feels that RIL hoarded gas in anticipation of higher prices, it wou
Tag: production
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Govt to ascertain hoarding allegation against RIL
The government is taking steps to ascertain whether Reliance Industries (RIL) hoarded natural gas produced from KG-D6 field in anticipation of higher prices. In this regard, the government plans to appoint a reputed independent consultant. If the consultant feels that RIL hoarded gas in anticipation of higher prices, it wou
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Lack of gas supply renders power plants idle
Power Minister Jyotiraditya Scindia said 12 power projects, with a total generation capacity of 2,978.62 mw, are lying idle because they don't receive natural gas from Reliance Industries' KG-D6. During first and second quarter of 2013 (till August 19, 2013), these projects, which are solely dependent on gas supply from KG-D6, did not
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Finished steel consumption inches up 0.2%
During Apr-Jul 2013, consumption of finished steel in India rose just 0.2 per cent to 24.1 million tonne (mn t) on year-on-year basis. During the same period, steel output grew 3.1 per cent to 26.1 mn t, from 25.3 mn t during the year-ago period. The muted growth in steel consumption is attributed to poor off-take by large sectors like construction and auto
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Crude steel output rises 47% for JSW Steel
Crude steel production rose 47 per cent for JSW Steel
at 9.91 lakh tonne in July from the year-ago month, the firm said in an official statement. This consists of 7.96 lakh tonne of flat product and 1.86 lakh tonne of long product. In July, 2012, the companyÂ’s crude steel output was at 6.76 lakh tonne. The firm produces steel from its three manufacturing locations, Vijayanagar, Salem and Dolvi
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Domestic steel output stands at 19.61 mn t in Apr-Jun 2013
Union Minister of Steel Beni Prasad Verma informed the Lok Sabha that domestic production of crude steel in the first quarter of the current year stood at 19.61 million tonne. He further said that steel is a deregulated sector, the role of the government is that of a facilitator providing a conducive policy environment
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House panel suggests cap on gas pricing
A Parliamentary committee suggested the government to impose a cap on natural gas price once it is linked to the formula proposed by the Rangarajan panel from April 2014. The Parliamentary committee suggested the cap in order to avoid the potential for unlimited gains to local producers owing to an upswing in
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Minister stresses need to attract investment in oil and gas sector
In order to attract investment in the oil and gas sector, the government must take key reforms and the recent hike in natural gas price is a step in this direction, union oil Minister M Veerappa Moily remarked in a media. He pointed out that India was losing out to China when it comes to attracting investment in oil and gas sector from multinational companies. He also said that China has also taken decision to hike natural gas price to attract inve
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Capacity utilisation in stainless steel sector declines
NC Mathur, President of the Indian Stainless Steel Development Association (ISSDA) informed that capacity utilisation by domestic stainless steelmakers declined because of poor demand, cheap imports and high raw material price. According to Mathur, domestic players reduced operating capacity by 20 percentage points so far this year. Thus, these players are operating at 45-50 per cen
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Icra expects rise in output and demand for natural gas
By 2015-16, domestic production of natural gas may rise to around 125 MMSCMD from 111 MMSCMD in 2012-13, rating agency ICRA feels. By 2019-20, domestic output could increase further to around 183 MMSCMD, a study conducted by ICRA show