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Brokerages see an upside of up to 23 per cent in Gujarat Gas stock as they believe that the restructuring of these Gujarat companies will simplify the existing layered structure.
Oil regulator PNGRB has launched a two-month long nationwide drive to increase adoption of piped natural gas as a cooking fuel in household kitchens in an attempt to cut dependence on imported fossil-fuels. "The Petroleum and Natural Gas Regulatory Board (PNGRB) along with city gas distribution entities will run a campaign from January 26 to March 31, aimed to promote the adoption of piped natural gas (PNG) among households and to expand PNG consumer base across a broader segment of the population," it said in a statement. While PNG has gained currency in the last few years after PNGRB expanded city gas networks to most parts of the country, sizable households continue to use either LPG or conventional fuels like firewood and cow dung for cooking. While India is about 50 per cent dependent on imports to meet cooking gas LPG needs, use of conventional fuels is considered a health hazard. PNG offers a viable alternative. It is convenient as it does not require ordering for refills ..
Gas distributor Maharashtra Natural Gas Limited (MNGL) said it has entered into a technology collaboration with US-based Heath Consultants Incorporated to ensure low-emission operations of its natural gas utility infrastructure. The Memorandum of Understanding (MoU), signed under the US-India Low Emissions Gas Task Force (LEGT), would provide MNGL and Heath to jointly identify opportunities in the areas of emissions abatement, underground utility damage prevention, and waste heat recovery, MNGL said in a statement. "Upon signing this MoU, we would work to convert such identified opportunities into specific implementable projects," MNGL managing director Kumar Shanker said in the company statement. Houston-headquartered Heath Consultants Incorporated will also offer its technical solutions to support MNGL in gas line location services, underground utility damage prevention, waste heat recovery, and low-emission valves. As per the agreement, Heath shall support MNGL in improving ...
For the installation of CNG stations, storage facilities, pumping stations, etc., the licensee will need to independently obtain NOCs or permissions from the appropriate
The Initial Public Offering (IPO) of city gas distribution company IRM Energy was subscribed 27.05 times on the last day of subscription on Friday. The Rs 545.40 crore-initial share sale received bids for 20,62,70,910 shares against 76,24,800 shares on offer, as per NSE data. The category for non-institutional investors was subscribed 48.34 times while the portion for Qualified Institutional Buyers (QIBs) received 44.73 times subscription and Retail Individual Investors (RIIs) quota got subscribed 9.29 times. The IPO was a fresh issue of up to 1.08 crore equity shares. The price range for the offer was Rs 480-505 a share. IRM Energy Ltd on Tuesday said it has raised over Rs 160 crore from anchor investors. Proceeds from the issue to the tune of Rs 307.26 crore will be used to fund capital expenditure requirements for the development of the city gas distribution network at Namakkal and Tiruchirappalli in Tamil Nadu and Rs 135 crore for payment of debt. Besides, a portion will be
The initial public offering (IPO) of city gas distribution company IRM Energy was subscribed 1.71 times on the first day of subscription on Wednesday. The Rs 545.40 crore initial share sale received bids for 1,30,38,661 shares against 76,24,800 shares on offer, according to NSE data. The category for non-institutional investors was subscribed 2.60 times while the quota for retail individual investors (RIIs) received 1.77 times subscription and the portion for qualified institutional buyers (QIBs) got subscribed 1.07 times. The IPO is a fresh issue of up to 1.08 crore equity shares. The price range for the offer is Rs 480-505 a share. IRM Energy Ltd on Tuesday said it has raised over Rs 160 crore from anchor investors. Proceeds from the issue to the tune of Rs 307.26 crore will be used to fund capital expenditure requirements for the development of the city gas distribution network at Namakkal and Tiruchirappalli in Tamil Nadu and Rs 135 crore for payment of debt. Besides, a porti
India's largest gas distributor is seeking the cargo for delivery to the Dabhol terminal between Oct. 19-31
The government is looking to push up the share of natural gas to around 15 per cent in the energy mix from the current 6 per cent
CLOSING BELL: Bajaj Finance, Asian Paints, IndusInd Bank, ICICI Bank, Nestle India, HUL, Reliance Industries, HDFC Bank, Axis Bank, and SBI were the top laggards on the Sensex index
Officials said the regulator's move to recognise 54 gas pipelines as common carriers has faced multiple litigations till now from private entities, such as Adani Total Gas and even state run-GAIL
Without the participation of Russian experts, Moscow won't recognise any results of investigation into leaks on the Nord Stream pipelines, the Russian Foreign Ministry said
Ahead of the winter, Europe is making desperate attempts to purchase natural gas from sources other than Russia, putting Asia in a tight spot. What does it mean for India? Let us find out
The Indradhanush Gas Grid Limited (IGGL), joint venture of five oil and gas public sector undertakings, has achieved a physical progress of 42.94 per cent and a capital expenditure of Rs 1556.46 crore for the 2021-22 financial year, according to a company release here on Thursday. IGGL Chairman Atindra Roychoudhury said this while addressing the fourth annual general meeting. "The company achieved a capital expenditure of Rs 1556.46 crore and physical progress of 42.94 per cent in the financial year 2021-22", he said. The AGM was conducted in both physical and virtual mode and was attended by its directors, shareholders and other stakeholders, the release said. The IGGL is a joint venture of IOCL, ONGC, GAIL, OIL and NRL and is implementing the North East Gas Grid (NEGG) project connecting the capital cities and major demand centres of the North Eastern part of India to build a gas-based economy in the region. The NEGG is implemented as per the Hydrocarbon Vision 2030 of the Nort
A former Gazprom subsidiary reneges on its supply contract forcing the state-owned gas distributor to cut back supplies to key industries
Adani and Reliance Group are planning to set up 40-million tonne per annum (mtpa) plants in Uttar Pradesh and Gujarat, while Reliance Industries is still formalising the two locations
GAIL will liquefy or turn natural gas into liquid at sub-zero temperature and transport it in trucks to users.
The GSTOU said that it was forced to suspend the Russian gas transit to Europe via the territories in eastern Ukraine controlled by Russian forces due to "force majeure"
While natural gas makes up just a small portion of India's power mix, a scarcity of coal and hot weather has triggered scheduled blackouts, threatening to upend the economy
Will BBNL-BSNL merger expedite Bharat Net project? What's Rajesh K Mediratta's take on transparency of Indian Gas Exchange? Are inflation worries overstretched? What is Android Go? All answers here
Indian Gas Exchange (IGX) was set up two years ago to free up pricing of domestic natural gas. In an interview with Business Standard's S Dinkar, MD & CEO Rajesh K Mediratta shares its journey so far