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
Tag: trade
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CPT looks to handle more of clean cargoes
Chennai Port Trust (CPT) wants to increase the volume of dry bulk and break bulk cargoes like food grains, fertilizers in order to compensate for the decline in the iron ore and coal cargoes. The port lost about 18 million tonne of cargo comprising about 10 million tonne of coal and 8 million tonne of iron ore in the last few years owing to reasons beyond the control of the port
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Paradip Port handles 3 times more ore cargo
During Apr-Jun 2013, Paradip port handled 1.03 million tonne of iron ore export cargo compared to just 371,000 tonne in the year-ago period. Specifically, the cargo is iron ore fines of 62 grade. The almost three fold rise in ore export cargo is attributed to the depreciation of rupee against the dollar. Federation of Indian Mineral Industries said there is no major rush of importers to book Indian iron ore. The rise in ex
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Cargo volume at PPT rises 45% in June quarter
During Apr-Jun 2013 quarter, cargo volume at Paradip Port Trust (PPT) rose 45 per cent to 17 million tonne (mn t) from 11.74 mn t in the year-ago period. In an official statement, the only major port in Odisha said the cargo volume during the quarter exceeded the target set for the period by 5.79 per cent.Among all major ports in the country, the port is ranked at second position in terms of both volume and percentage growth in traffic. In June alone, the throu
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Minister to discuss fuel export to Mauritius
Union Commerce and Industry Minister Anand Sharma may hold discussion with his counterpart in the Mauritius government to promote petroleum export from India to the island nation. Sharma, who is scheduled to visit the country soon, would hold meeting with Sayyad Abd-Al-Cader Sayed-Hossen, Minister of Industry, Commerce and Consumer Prote
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CPT to promote its facilities for attracting traffic
On July 19, Chennai Port Trust (CPT) has organised a trade show in Hyderabad to showcase various facilities available with the port and how it would be useful to importers and exporters. The port decided to hold the event as it realised that a lot of cargo from CPT goes to Andhra hinterland. Industry watchers warn that CPT must improve its marketing or else traders would slowly move towards newe
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MPT to offer sops to exporters
In order to attract container traffic business from the neighbouring states, Mormugao Port Trust (MPT) plans to offer operational sops to exporters. The port has been trying to diversify its cargo handling ever since the iron ore mining ban in Goa affected export of the mineral and thereby the port's main cargo traffic. The port is willing to offer one-to-one service so that the consignment can be loaded onto the ship till the last minute. There is no cutoff time for loading the con
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Method for computing competitive gas price
Recently, the Cabinet Committee on Economic Affairs (CCEA) cleared the fixation of price of domestic natural gas according to the recommendations of the committee constituted under the Chairmanship of C Rangarajan on Production Sharing Contract (PSC) mechanism in the petroleum industry. The approved policy derives from global trade transactions of gas, the competitive price of gas at the global level by combining two
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Price of Indian basket of crude oil rises
On June 25, the international crude oil price of Indian basket rose to $99.96 per barrel (bbl) from $98.23 per bbl prevailing on the previous trading day of June 24. The price is computed or published by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas. The Indian Basket crude oil price had fallen to 98.23 per bbl on June 24 from $100.10 per bbl on June 21 (the earl
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Pipavav port handles 6% more marine export cargo
Gujarat-based Pipavav port handled 233,738 tonne of marine exports in 2012-13, 6 per cent higher than 219,801 tonne handled in the previous year, data from Marine Products Export Development Authority shows. It is learnt that the port continues to be a leading facility for export of seafood, in terms of quantity, for the second consecutive year in 2012-13