Gspc

GSPC, IGX to set up global hydrogen trading mechanism at GIFT IFSC

The International Financial Services Centre (IFSC) at GIFT City in Gandhinagar on Tuesday announced a strategic collaboration with the Indian Gas Exchange (IGX) and state-owned Gujarat State Petroleum Corporation (GSPC) to set up a global hydrogen trading mechanism. "A key aspect of this collaboration is the subsequent launch of the Global Hydrogen Price Index, a benchmark that will play a pivotal role in price discovery and market information on the burgeoning green hydrogen market in India," the Gujarat International Finance Tec-City (GIFT City) said in a release. The mechanism is expected to enhance transparency, boost investor confidence, and facilitate the growth of the green hydrogen market on a global scale, it said. GSPC jointly with IGX will develop a mechanism to create an index for hydrogen and attract global institutions to trade in GIFT IFSC, the release said. GIFT City SEZ is a notified IFSC in India with banking, insurance, capital markets, asset management, and FinT

Ukraine conflict: India's LNG firms see rising costs, shrinking supplies

Rising costs and shrinking supplies will impact major expansion plans

Gujarat State Petroleum seeks LNG cargo for January delivery: Report

India's Gujarat State Petroleum Corp is seeking a LNG cargo for delivery in January, two industry sources said

GSPC seeks six LNG cargoes for March to November delivery: Report

It is also seeking five cargoes for delivery over April to November, also on a DES basis, in a separate tender that closes on March 4

GSPC posts Rs 170.6 bn loss, highest among Gujarat State PSUs: CAG report

The latest audit report by the Comptroller and Auditor General of India (CAG) has seen the debt-laden Gujarat State Petroleum Corporation Ltd. (GSPC) emerge as the biggest loss making state public sector undertaking (SPSU). Among the 14 loss-making SPSUs in the Gujarat government, GSPC incurred the highest loss of Rs 170.61 billion. The CAG report, tabled recently in the state assembly, showed that GSPC Ltd. booked impairment loss of Rs 149.2354 billion on 80 per cent participating interest and 10 per cent in KG-OSN-2001/3 block (KG Block). The total loss of the company for the year 2016-17 stood at Rs 170.61 billion. Out of the 77 working SPSUs, 54 earned profit of Rs 36.48 billion, while 14 of them incurred losses totaling Rs 184.12 billion including that of GSPC. The total turnover of these SPSUs stood at Rs 1119.53 billion, about 9.95 per cent of the Gross State Domestic Product (GSDP) for 2016-17.The 77 working state PSUs together posted an overall profit of Rs 16.33 billion in ..

'We didn't have deep pockets to go ahead with K-G basin discovery'

Interview with Managing Director of GSPC, J N Singh

We didn't have the resources to go ahead with KG basin discovery: GSPC MD

Partnership with ONGC is a matter of national interest, says J N Singh

GSPC posts net profit of Rs 374 crore for H1 of FY17

Firm had reported a Rs 370 crore loss in the year-ago period

Buyout purely commercial, not forced by Narendra Modi: GSPC

GSPC on Friday denied that its possible buyout by ONGC was being forced by the Narendra Modi government.

Government trying to hide GSPC scam, alleges Congress

Modiji, then Gujarat Chief Minister proudly claimed in 2005 that the GSPC has found 20 tcf gas in KG Basin, says Jairam Ramesh

ONGC may buy loss-making GSPC

Jairam Ramesh said as Gujarat CM Modi had claimed that GSPC found 20 tcf of gas in KG basin which after 11 years turned out to be only 1 tcf

GSPC finds a white knight in ONGC

The two are in talks for a probable majority stake sale in the Deen Dayal West gas block

What's ailing GSPC: 5 challenges faced by the PSU

Also, the Congress has sought a judicial probe into alleged irregularities of Rs 20,000 crore in the GSPC

GSPC struggles as KG basin gas eludes it

Delayed production and confusion over gas reserves in KG basin have pushed the company into debt, leaving its lenders worried

GSPC to start operations from KG discovery next week

Hydrofracking is a technique in which the well-rock is fractured by a liquid

GSPC yet to recover Rs 2,330-cr worth dues from JV partners: CAG

CAG slams GSPC for incurring interest burden of Rs 1,804 cr in FY15

CAG raps GSPC for mismanagement, investment in KG block

According to the CAG report, GSPC's borrowing stood at Rs 19,716 crore as of March 2015, a jump of 177% since 2011