Gas Supplies

European Union candidate Serbia will continue to refuse to impose sanctions against Russia over its invasion of Ukraine despite Western pressure, Serbia's leader said after his telephone conversation with Russian President Vladimir Putin on Sunday. Populist Serbian President Aleksandar Vucic said on Instagram that he believes the call, what he said was his first in more than two years with the Russian president, will help further development of relations and trust between Russia and Serbia. We talked as people who have known each other for a long time, as friends, and the ten-minute conversation was marked by a personal note, and we also talked about those who are weak (pro-Western) leaders, Vucic said. Vucic quoted Putin as saying what is good for Serbia is also good for Russia, what is good for the Serbs is also good for the Russians. Vucic did not say whether he would accept an earlier invitation by Putin to attend a BRICS summit of emerging economies, led by Russia and China, i

Higher domestic natural gas marketing volumes pull up revenue to Rs 34,822 crore

The government headhunter PESB has rejected all candidates it interviewed for the top job at Hindustan Petroleum Corporation Ltd (HPCL), the third instance in as many years that the board has not found any suitable candidate for the role in a state oil firm. The Public Enterprises Selection Board (PESB) on June 14 interviewed eight candidates, including a director on the HPCL board and managing director of Indraprastha Gas Ltd (IGL), but rejected them all. "The Board did not recommend any candidate for the post of chairman and managing director (CMD) HPCL and advised the Ministry of Petroleum & Natural Gas to choose an appropriate course of further action for selection, including the Search-Cum-Selection Committee (SCSC) or as deemed appropriate with the approval of the competent authority," the PESB panel said in a notification. The HPCL CMD post will fall vacant on September 1, 2024, when the incumbent Pushp Kumar Joshi retires on attaining a superannuation age of 60 years. The .

State-owned Oil and Natural Gas Corporation (ONGC) is seeking help from an internationally-proven technical service provider to raise oil and gas production from its flagship but old and maturing Mumbai field in the Arabian Sea. The firm has floated an international tender to identify the service provider who will help raise production from the field, ONGC said in a post on X. "The giant multi-layered Mumbai High field, which commenced production 48 years ago in 1976, is currently in its mature stage of production and ONGC has implemented a number of schemes in this field to improve production," it said. "As a custodian and operator of Mumbai High field, ONGC is keen to collaborate with a global technical service provider. The service provider would be contracted for 10 years, extendable by another five years." Mumbai High field lies 160 kilometres off the coast of Mumbai and produces about 38 per cent of India's oil production. While it hit a peak output of 40,000 barrels per day

Latest rise was due to low base in Q4 FY23 as a result of supply disruptions

Increasing global gas prices, and an extended winter in March led to the sudden fall

The joint venture aims to double gas sales in four years and strengthen infrastructure to more than 600 retail outlets during the period to meet India's rising gas demand, Jha added

The latest rise was due to lower purchase of stock in trade, higher gas trading margins

For the installation of CNG stations, storage facilities, pumping stations, etc., the licensee will need to independently obtain NOCs or permissions from the appropriate

In Q2 FY24, the company's consolidated revenue from operations fell 14.6 per cent to Rs 33,049 crore from Rs 38,728 crore in the year-ago period

India is building a vast gas pipeline network and import facilities as Prime Minister Narendra Modi wants to raise the share of gas in the country's energy mix to 15% by 2030

Asian liquefied natural gas (LNG) buyers are navigating a near-term market that is so finely balanced that any supply disruptions or demand upsides could cause significant price volatility, according to Mangesh Dilip Patankar, Vice President, APAC Gas and LNG Consulting at Wood Mackenzie. Speaking on the sidelines of the Gastech 2023 conference being held during September 5-8 in Singapore, Patankar said that the LNG market is at a critical juncture and the uncertain outlook has affected pricing and contract terms significantly and widened the gap between buyer and seller aspirations. "Many LNG buyers face the challenge of ensuring LNG supply security, while keeping their procurement costs competitive and contractual terms flexible," Patankar said on Tuesday. "Simultaneously, the terms in LNG SPAs (sale and purchase agreements) are also evolving as LNG trading increases." According to Wood Mackenzie Lens, Australia and Qatar will be biggest suppliers of LNG to Asia throughout 2023-20

At the bourses, the stock surged over 3 per cent in intra-day deals to Rs 122.7 on the BSE on Monday. In comparison, the S&P BSE Sensex traded flat at around 66,245 levels

The regulator for the downstream energy sector has pitched an imported gas-based regime

The country aims to raise the share of natural gas in its energy mix to 15% by 2030 from about 6.5% now

Pakistan's Minister of State for Petroleum Musadik Malik said that they cannot give a 24x7 gas supply to the masses, according to The News International

Officials said existing APM gas prices have been left broadly unchanged till Sept 31 as a temporary arrangement

Apart from hardships for domestic consumers using it for cooking, the rise in CGD prices indirectly has an impact on the government's goal of achieving 15% share of natural gas in the energy basket

ndia's largest gas distributor reported a 93% decline in its December quarter net profit as it transmitted less gas locally due to a reduction in liquefied natural gas (LNG) supply from a deal

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