Any such move will delay investments in fuel production, company tells govt panel
Govt's 40% spike in natural gas prices is likely to have a mixed impact across related-sectors. Find out the sectoral impact of rise in gas-price and if it's time for investors to redesign portfolio
The central government's decision to increase the domestic APM gas price will negate the benefit of increased APM gas allocation to CNG players, Jefferies said in a report
Shares of Oil & Natural Gas Corporation (ONGC), Reliance Industries, and Oil India were in spotlight on Monday amid a steep 40 per cent hike in natural gas price
This includes difficult and newer fields operated by Reliance Industries and partner BP in the KG basin
Prices of natural gas, which is used to generate electricity, make fertiliser and is converted into CNG to run automobiles, were on Friday hiked by a steep 40 per cent to record levels, in step with global firming up of energy rates. The rate paid for gas produced from old fields, which make up for about two-thirds of all gas produced in the country, was hiked to USD 8.57 per million British thermal units from the current USD 6.1, according to an order from the oil ministry's Petroleum Planning and Analysis Cell (PPAC). Simultaneously, the price of gas from difficult and newer fields like the ones in Reliance Industries Ltd and its partner bp plc operated deepsea D6 block in KG basin, was hiked to USD 12.6 per mmBtu from USD 9.92, the order said. These are the highest rates for administered/regulated fields (like ONGC's Bassein field off the Mumbai coast) and free-market areas (such as the KG basin). Also, this will be the third increase in rates since April 2019 and comes on the b
CNG automakers have reduced their production targets to 500,000-550,000 vehicles for FY23. At the beginning of the current financial year, this target was 700,000-750,000
Shares of gas distribution companies have being in focus on expectations of rise in demand, coupled with a favourable outcome from the Kirit Parikh report.
The MCX Crude Oil October futures are likely to test major support of 100-WMA around the Rs 5,900-level. Whereas, for the week, Rs 530-level is the key support for Natural Gas futures.
The government-appointed panel for reviewing the pricing of natural gas has sought more time to submit its report as it does a tightrope walk of striking a balance between the expectations of producers and consumers, sources said. The panel headed by former planning commission member Kirit S Parikh was tasked to suggest a "fair price to the end-consumer" by the end of September. Given the enormity of the task, the committee wanted 30 more days to finish the report but the government wants it to wrap up the work by mid-October, two sources with knowledge of the matter said. A decision on the exact duration of the extension will be taken next week after oil secretary Pankaj Jain returns from his overseas trip, they said. Natural gas is a fossil energy source that formed deep beneath the earth's surface. It is used to generate electricity, produce fertiliser, convert into CNG to run automobiles and piped to household kitchens for cooking and heating. It is also used in making glass, .
The 153% jump in prices of natural gas this year has raised the stakes for the government of India to get its policy right in the sector
Prices of natural gas, which is used to generate electricity, make fertiliser and is converted into CNG to run automobiles, is likely to rise to record levels at the rate review scheduled this week, sources said. The government-dictated price for natural gas produced in the country is to be revised on October 1. After factoring in the spike in energy prices witnessed in recent months, the rate paid for gas produced from old fields such as of state-owned Oil and Natural Gas Corporation (ONGC) is likely to rise to USD 9 per million British thermal units from current USD 6.1. Simultaneously, difficult fields like the ones in Reliance Industries Ltd and its partner bp plc operated D6 block in KG basin, are likely to get around USD 12 mmBtu compared to the current rate of USD 9.92, two sources aware of the matter said. These are the highest rates for administered/regulated fields (like ONGC's Bassein field off the Mumbai coast) and free-market areas (such as the KG basin). Also, this w
The MCX Crude Oil October futures may see a directional move on breakout from the Rs 6,550-6,900 trading range so far this week. Short-term trend for Natural Gas futures may soon turn negative.
Shell Plc Chief Executive Officer Ben van Beurden will step down at the end of this year after almost 40 years at the company
The MCX Crude Oil September futures may trade in a broad range of Rs 6,550 to Rs 7,150 this week. MCX Natural Gas futures seem to be finding support around the 100-DMA.
Pankaj Jain's comments follows contracts signed by govt for 34 oil exploration blocks; minister Hardeep Singh Puri asserts energy crisis in Europe far worse than India
As global prices soar, another committee to review gas pricing policies may find the going more challenging
The bias for MCX Crude Oil September futures is likely to favour the bears as long as the commodity trades below Rs 7,170; For MCX Natural Gas futures the key support range of Rs 630 - Rs 620.
Nord Stream 1 is the biggest pipeline transporting cheap natural gas between Russia and Europe via Germany
Poland and Slovakia celebrated launch of new pipeline connecting them, which enables Warsaw to import 5.7 billion cubic meters (bcm) of natural gas and grants Bratislava access to 4.7 bcm each year