Under section 3 of the Competition Act, the Competition Commission of India (CCI) is probing an allegation that state-run oil marketing companies (OMCs) are indulging in cartelisation on fuel pricing. According to some media reports, these state-run OMCs may get notice from the panel on the allegation. The Petroleum and Natural Gas Regulatory Board earlie
Tag: supply
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Ministry wants panel to discuss gas supply to power plants
Union Power Minister Jyotiraditya Scindia asked AK Antony, Chairman of the Empowered Group of Ministers (EGoM) on 'Gas Pricing and Commercial Utilisation of Gas' to convene a meeting of the panel to restore natural gas supply to power plants. Scindia has called for the meeting as around 13 power plants with an aggregate electricity generation capacity of 5,200 megawatt are closed because of lack of g
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Weak demand hits pricing power of steel firms
Pricing power of steel companies is constrained because of weak demand for the metal, Nomura India said in its latest research report. Against an expected demand growth of 4.5-5.0 percent, consumption of steel grew a mere 3.3 percent year-on-year (y-o-y) to 73.3 million tonne (mn t) in 2012
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GAIL books liquefaction capacity from Dominion
GAIL Global (USA) LNG LLC, the American subsidiary of state-owned GAIL (India), entered into a terminal service agreement with US-based Dominion to book a 2.3 mmtpa liquefaction capacity in the Cove Point LNG liquefaction terminal project at Lusby, Maryland. According to this agreement, Dominion would allow GAIL to use its Cove Point pipeline infrastructure for liquef
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Supply may outstrip demand in medium term
Media reports indicate that although the global demand and supply for crude oil and natural gas is in balance, in the medium term supply may outstrip demand. In the short-run, higher production from shale in North America is being offset by substantial outages elsewhere, principally as a result of sanctions on
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Power industry demands gas price pooling
Industry players in the power sector demanded the union oil ministry to form a common natural gas price pool for core sectors such as power and fertilisers. They also asked the ministry to raise the domestic supply of natural gas for power plants by diverting 6 million standard cubic metre per day (mscmd) of gas being supplied to the non-core sector and reserving the new
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SAIL imports 75% of coking coal requirement
Steel Authority of India (SAIL) imports 75 percent of its requirement of coking coal from foreign countries and the rest through captive mines and domestic sources. This information was given by the Minister of State for Commerce & Industry, D Purandeswari in a written reply in the Lok Sabha. The company has to rely on imports for substantial consumption of coking coal because of the limited availa
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SAIL, Posco in talks over steel plant project
State-run firm Steel Authority of India (SAIL) has been in discussion with POSCO for setting up a FINEX technology based steel plant of around 3 Million Tonne Per Annum (mn tpa) hot metal capacity as a joint venture at Bokaro Steel Plant. It is estimated that around 1,100 acre land would be required for this purpose. SAIL and POSCO have not reached an agreement on the share holding structure of the j
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CCI sends order to fuel retailers
Ashok Chawla, Chairman of the Competition Commission of India (CCI) informed reporters that the panel was in the process of sending fuel retailers an order related to a probe on the alleged cartelisation on petrol pricing. Chawla informed this on the sidelines of a seminar organised by industry body Assocham. The CCI, which is emp
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Gujarat govt plans PNG connection to many cities
Gujarat minister of Energy and Petrochemicals Saurabh Patel informed that the state government plans to provide Piped Natural Gas (PNG) connections in cities of Bhavnagar, Amreli, Junagadh, Jamnagar, Kutch (East) and Kutch (West). However, the central government has been delaying approval for the project in past two years, the minister said. The bidding process for providing PNG conn