Gas Supplies

Govt partially restores gas supply to retailers including IGL, Adani Total

The government has increased cheaper gas supply to city gas retailers IGL, Adani-Total, and Mahanagar Gas, restoring a major part of the allocation that was cut in 2024, according to regulatory filings by the companies. The government, in October and November last year, had cut supplies of the so-called APM Gas (low-priced natural gas coming from old fields such as Mumbai High and Bassein fields in the Bay of Bengal) to city gas retailers by as much as 40 per cent in view of limited output. This led to city gas retailers hiking CNG prices by Rs 2-3 per kg and planning more increases as they replaced lost volumes with higher-priced input fuel. The price hike made CNG less attractive when compared to alternate fuels like diesel. Following this, the Ministry of Petroleum and Natural Gas in a December 31, 2024 order rejigged some allocations of gas produced from below ground and undersea. The ministry ordered a cut in gas supplied to state-owned GAIL and Oil and Natural Gas Corporatio

Russian energy giant Gazprom suspends gas flow to Europe through Ukraine

Gazprom has cited the non-renewal of agreement, which expired on January 1, as the reason for suspension

Serbian prez thanks Putin for gas supplies, vows to never impose sanctions

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

Gail Q1FY25 results: PAT jumps 77.5% to Rs 3,183.35 cr on high gas margin

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

Govt headhunter interviews eight people for HPCL top post; rejects them all

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 .

ONGC seeks technical help to raise oil, gas output at Mumbai High field

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

Gail Q4 results: Consolidated net profit jumps 2.8-times to Rs 2,469 crore

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

Monthly natural gas trades down 80% in March: Indian Gas Exchange

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

IndianOil, Adani Gas JV to invest $300 million to double gas sales

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

Gail Q3 results: Consolidated net profit jumps 700% to Rs 3,193 cr

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

Haryana govt set to introduce comprehensive city gas distribution policy

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

GAIL Q2 results: Consolidated net profit jumps 87% to Rs 2,442 crore

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

IGX hopes to launch contracts for LNG trading next month: CEO Mediratta

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

LNG supply disruption could cause major price volatility: Wood Mackenzie

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

UBS 'double upgrades' Gail India to buy; sees 25% upside in the stock

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

Hard to imagine gas-led economy based only on domestic supply: PNGRB Chief

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

Gas regulator to pitch for building gas storage to boost clean fuel usage

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

Providing 24/7 gas supply to masses not possible, says Pakistan minister

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

Gas sector confident of smooth transition as it awaits new pricing rules

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

Supply uncertainty, EV push bring challenges to city gas distributors

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