Page 2 - Natural Gas

ONGC Q1 FY25 results: Net profit declines 32.1% to Rs 9,936 crore

While production was marginally down, higher cost of materials, cost write offs swelled expenses

Gujarat sees an increase of nearly 200K piped gas connections, says govt

A statement from the state government said that under the leadership of Chief Minister Bhupendra Patel, Gujarat is channelling economic development through environmentally friendly policies

Irrespective of who wins election, Venezuela faces natural gas problem

The South American country's output fell to 4 billion cubic feet per day (bcfd) this year from almost 8 bcfd in 2016, data from consultancy Gas Energy Latin America shows

Indian Oil to triple gas sales, boost renewable energy to 31 GW by 2030

The company aims to establish a 5 GWh lithium-ion battery production capacity by 2031 as part of its strategy to diversify its energy portfolio

ONGC acquires Equior stake in Azerbaijan oilfields for $60 million

ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has acquired Norwegian firm Equinor's stake in an Azerbaijan oilfield and an associated pipeline for USD 60 million, the firm said in a statement. OVL "has signed a definitive sale purchase agreement (SPA) for directly acquiring 0.615 per cent participating interest (PI) in offshore Azeri Chirag Gunashli (ACG) oil field in Azerbaijan from Equinor. The agreement also includes acquiring 0.737 per cent shares of the Baku Tbilisi Ceyhan (BTC) pipeline company through its wholly-owned subsidiary ONGC BTC Limited," it added. The acquisitions, expected to be completed in the upcoming months, involve a total investment of up to USD 60 million. OVL currently has a 2.31 per cent stake in the ACG field and 2.36 per cent in the BTC pipeline. The buyout of Equinor will help raise its stake. Equinor, in December last year, announced an agreement to sell all its remaining assets in Azerbaijan to SO

Bolivia prez announces natural gas discovery, promising boon for country

Bolivia's embattled president on Monday announced the discovery of vast natural gas reserves, describing it as the biggest find in nearly two decades that could help the cash-strapped country reverse its falling production. President Luis Arce called the trove just north of the capital a mega field," saying it has some 1.7 trillion cubic metres of gas at a likely market value of $6.8 billion. He said the field named Mayaya X-1 is way to revive the gas industry. That was the engine of robust growth in the early 2000s, a period of booming exports and declining poverty that experts have termed Bolivia's economic miracle. This marks the beginning of a new chapter for the northern sub-Andean region, offering hope of maintaining our country as an important gas exporter, said Arce, who is the alleged target of a military coup attempt last month and the main focus of anger among Bolivians over shortages of fuel and foreign currency. "It's the most important discovery since 2005. In more

India's clean air target at risk as gas plan caught in regulatory minefield

New Delhi's ambitious targets to clean its air by decarbonising energy sector will be underpinned by its success in building nascent natural gas segment

Monthly natural gas trades shoot up 480% in May: Indian Gas Exchange

Higher demand from gas-based power plants amid hot weather fuelled the rise

Bringing natural gas under GST will lead to faster adoption: Oil secy

The government is cautiously optimistic of solving the GST issue in 2024-25, he said

Crude Oil, Natural Gas: Check key trading strategy, target price

Despite ongoing conflicts and lower demand growth expectations, oil prices remain steady

Crude oil, Natural gas, Copper: Check key trading strategy, target price

Crude oil prices rose by 0.5 per cent to $78.48 on Monday amid volatility tied to hopes for an end to the Gaza conflict.

Japanese consortium to invest $370 mn in Natural Gas Transition Platform

The infrastructure investor said the platform will also increase investments to boost the consumption of renewable natural gas or biogas in India and use of green hydrogen using the city gas network

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

GAIL plans to commission its first green hydrogen project in April

"Once the initial hiccups are sorted at the commissioning stage, we expect to start producing in a month's time," one of the sources said

Mahanagar Gas legally challenges infrastructure exclusivity expiry notice

City-gas distributor to apply for a 10-year extension to continue its infrastructure exclusivity in Mumbai

Competition status quo to stay amid PNGRB notice: Industry experts

Petroleum and Natural Gas Regulatory Board (PNGRB) in a public notice said the infrastructure exclusivity granted to geographical areas in Mumbai and Greater Mumbai have expired

Kerosene consumption falls significantly by 26% CAGR during FY14-23: Data

Kerosene consumption in the country has declined sharply by 26 per cent CAGR between 2013-14 and 2022-23, mainly due to government policies to promote clean energy. The latest 'Energy Statistics India 2024' of the National Statistical Office (NSO) stated, "The impact of energy policies of recent time is evident on the consumption of kerosene as a fuel in the country". The data showed that the consumption of kerosene has seen a steady decreasing trend with a compounded annual growth rate (CAGR) of (-) 25.78 per cent from 2013-14 to 2022-23. The report stated that among all the petroleum products the HSDO (diesel), which has the highest share of consumption (38.52 per cent) during 2022-23, experienced a positive growth of 12.05 per cent over the last year. Petrol and pet coke have witnessed a growth of 13.38 per cent and 28.68 per cent, respectively, over the last year. HSD (diesel) has also registered a 12.05 per cent growth to 85.90 MTs during 2022-23(P) compared to 76.66 MTs duri

Maha CM Eknath Shinde inaugurates country's first LNG-powered bus

Chief Minister Eknath Shinde on Friday inaugurated India's first Liquefied Natural Gas (LNG) powered bus, which will be operated by Maharashtra State Road Transport Corporation, an official said. A release from the state-run transport corporation said 5000 of its diesel vehicles will be converted to LNG alternative fuel vehicles in phases, adding that 34 per cent of its total expenditure is for diesel for its fleet of 16,000 buses. "Due to conversion of buses from diesel to LNG, pollution will reduce by 10 per cent and fuel cost will go down significantly. MSRTC has signed an MoU with M/s Kings Gas for the conversion of buses to LNG. It includes usage and supply of fuel," the release said. MSRTC, which ferries around 60 lakh passengers everyday, will set up LNG distribution facilities at 90 depots across the state, the release added.

Compressed bio gas plants to be set up in Raipur, Bhilai; BPCL signs deal

An MoU was signed on Wednesday between BPCL, Chhattisgarh Biofuel Development Authority and municipal corporations of Raipur and Bhilai for production of Compressed Bio Gas (CBG) in Chhattisgarh, officials said. As per the pact, BPCL- a central PSU, will set up CBG plants in Raipur and Bhilai with an investment of around Rs 100 crore and the capacity of each plant will be 100-150 tonne per day. The MoU was signed in the presence of Chief Minister Vishnu Deo Sai and Deputy CM Arun Sao here at the former's official residence, they said. In his address, Chief Minister Sai said the establishment of CBG plants is a key step towards clean city, clean energy and zero carbon emissions. About 200-250 metric tonne of municipal solid waste will be used every day in the production of biofuel in the two CBG plants. BPCL will invest approximately Rs 100 crore for setting up the two plants, Sai said. The setting up of these plants will create about 60,000 man days of employment directly and ...

After MGL and IGL, Torrent Gas reduces CNG prices by Rs 2.50 per kg

After city gas retailers in Mumbai and Delhi reduced CNG prices, Torrent Gas on Saturday announced a Rs 2.50 per kg reduction in compressed natural gas (CNG) prices across all its locations. "This makes CNG cheaper by up to 45 per cent vis a vis petrol and up to 37 per cent vis a vis diesel," the company, which has a city gas license to sell CNG to automobiles and piped cooking gas to households in 34 districts, said in a statement. "This reduction in prices of CNG has been done with an objective of promoting the usage of clean fuel and enhancing the ecosystem of natural gas." Mahanagar Gas Ltd, the city gas operator in Mumbai and its adjoining areas, on March 6, announced a Rs 2.5 per kg reduction in CNG price. Accordingly, the revised CNG price will be Rs 73.50 per kg. "MGL's CNG price now offers attractive savings of 53 per cent compared to petrol and 22 per cent compared to diesel at current price levels in Mumbai while delivering unmatched convenience, safety, reliability and