gas Industry News
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The Economic Times
The Petroleum and Natural Gas Regulatory Board (PNGRB) has formed a committee to address key issues in the domestic natural gas sector. The panel, led by former Sebi chairman Ajay Tyagi, will recommend ways to separate gas transport and marketing activities and tackle monopolies in city gas distribution.
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Thu, Sep 19, 2024
Business Standard
10th oil, gas bidding round may offer 'no-go' areas: Oil ministry official
India is likely to offer areas classified as 'no-go' areas in the tenth round of bidding for exploring and producing oil and gas in early 2025, a top oil ministry official said on Thursday. Bids for 28 oil and gas blocks offered in the ninth Open Acreage Licensing Policy (OALP) round closes on September 21 and the 10th round is in works, the official, speaking on condition of anonymity, told reporters here. OALP-X round will happen after the Parliament approves in the ensuing winter session amendments to the Oilfields (Regulation and Development) Act (ORDA) of 1948 to expand definition of mineral oils to include any naturally occurring hydrocarbon, coal-bed methane and shale gas/oil. The amendment also replaces mining lease with petroleum lease and decriminalises certain offences. "We hope that the amendments will be approved in the winter session of Parliament (likely in November/December). The changes are expected to bring confidence for the potential bidders for OALP X exploratio
The Economic Times
10th oil, gas block bidding round in 2025 on liberalised terms: Oil Ministry official
India plans to offer previously restricted 'no-go' areas for oil and gas exploration in the tenth round of bidding in early 2025. This follows expected amendments to the Oilfields Act, which will expand the definition of mineral oils and decriminalize certain offences, aiming to boost domestic production.
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Thu, Sep 19, 2024
The Economic Times
Ellenbarrie Industrial Gases files DRHP with Sebi to raise funds via IPO
The IPO comprises a fresh issue of up to Rs 400 crore and an OFS of up to 1.44 crore equity shares. Additionally, the company may raise up to Rs 80 crore in a pre-IPO placement, potentially reducing the fresh issue size.
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Thu, Sep 19, 2024
The Economic Times
India plans oil, gas exploration licensing round in early 2025, source says
India plans to launch a new oil and gas exploration licensing round early next year, a source from the oil ministry said.
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Thu, Sep 19, 2024
The Economic Times
The Jubilant Bhartia Group promoters are leading the race to acquire a significant minority stake in Coca-Cola's India bottling arm, Hindustan Coca-Cola Beverages (HCCB). They have signed an exclusivity agreement with Coca-Cola to negotiate the purchase for Rs 10,800-12,000 crore. This move is part of Coca-Cola's strategy to adopt an asset-light model and precedes a planned listing of HCCB.
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Wed, Sep 18, 2024
Business Line
Renault’s CNG variants to hit the market alongside new models
The CNG variants will be rolled out across key markets, with Renault already positioning its MPV, the Triber, as a strong contender in the fleet segment
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Wed, Sep 18, 2024
The Economic Times
Extending battery life with cutting-edge rejuvenation technology
Global warming is escalating due to rising greenhouse gases from fossil fuel use. Scientists are advocating for recycling and reuse, especially in battery management. Lead-acid batteries can be rejuvenated to extend their lifespan, reduce e-waste, and support a circular economy. This technology offers economic and environmental benefits.
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Wed, Sep 18, 2024
CNBC TV18
Coal India eyeing Argentina, Chile for critical minerals, says official
India, among the world's top greenhouse gas emitters, has been pursuing overseas pacts to secure key minerals in resource-rich countries such as Australia, Argentina and Chile.
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Wed, Sep 18, 2024
Business Standard
Centre's support to help attain $1 bn exports of alcoholic beverages: CIABC
Support from the Centre and state governments will help the country to achieve USD 1 billion worth of alcoholic beverages exports in the coming years, the Confederation of Indian Alcoholic Beverage Companies (CIABC) said on Wednesday. CIABC Director General Anant S Iyer also said that promoting ease of doing business for the sector is key at both the Central and state government levels. Easy and timely permissions for bottling and branding; transport permits; and promoting online paperwork are some of the areas which need special attention for the growth of the sector. "We need ease of doing business across the operations, besides easy tax structures and market-determined prices to boost the exports. At present, rules for the sector differ from state to state," Iyer said. He said the USD 1 billion target is "ambitious, but possible". In 2023-24, the exports stood at USD 389 million. He added that the industry should give a try for this target as it needs about 14-15 per cent ...
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Wed, Sep 18, 2024
The Economic Times
Indian plans to keep buying cheap Russian oil, Hardeep Puri says
India will continue buying oil from Russian companies not under sanctions due to low prices, says Oil Minister Hardeep Singh Puri. With 88% of its oil needs imported, India seeks the cheapest suppliers. India also plans to expand its refining capacity and increase natural gas usage if prices stabilize.
Business Standard
India will contribute to 35% of global energy demand in 2 decades: Puri
Over the next two decades, India will contribute to 35 per cent of the global increase in energy demand, Indian Minister Hardeep Puri said here on Tuesday at a multinational conference held to deliberate on the world's energy needs. The 52nd Gastech Exhibition & Conference kicked off Tuesday with strategic insights from the world's five leading energy ministers, including India's, at the George R Brown Convention Center. The event, themed 'Transforming Energy Through Vision, Innovation, and Action,' brought into focus a need for global energy stability and rapid decarbonisation. In his keynote address, Union Minister of Petroleum & Natural Gas, Hardeep Singh Puri underscored India's increasingly dominant role in the global energy landscape. "If global demand is increasing by one per cent, ours is surging three times faster. Over the next two decades, India will contribute to 35 per cent of the global increase in energy demand," he said. He framed India's challenge as an ...
The Economic Times
City gas distribution cos' stocks jump on UBS’ bullish outlook
UBS said that the city gas space is at a critical point where smaller entities are turning sellers and strategic partners due to issues such as non-performance from new/small entities, infrastructure-commitment defaults, gas-sourcing challenges and capital constraints. that consolidation of smaller players in the city gas space.
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Wed, Sep 18, 2024
Business Standard
ArcelorMittal's India joint venture seeks duty-free LNG imports: Report
India, the world's second biggest crude steel producer, levies a 2.5 per cent basic customs duty and an additional 0.25 per cent social welfare tax on LNG
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Tue, Sep 17, 2024
The Economic Times
Natural gas output, consumption fall in August
In August, natural gas production and consumption in India both declined compared to the same month last year. Natural gas output dropped by 3.7% to 3,048 million metric standard cubic meters (MMSCM), with a 4.7% decrease in ONGC fields and a 3.5% decline in private sector fields.
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Tue, Sep 17, 2024
Mint
MGL, IGL shares jump 6% each after UBS lifts target price, expects over 30% upside
UBS has upgraded the rating on IGL to 'buy' from the previous rating of 'sell' and also lifted its target price from ₹400 to ₹700. Similarly, it has increased the target price for Mahanagar Gas from ₹1,600 to ₹2,400 per share.
The Economic Times
How biogas can reduce India's dependency on fossil fuels and lower energy costs?
India, the world's third-largest energy consumer, is exploring biogas as a sustainable alternative to fossil fuels. Biogas can reduce energy costs, improve waste management, and lower greenhouse gas emissions. Government initiatives aim to boost biogas production, contributing to energy security and environmental sustainability.
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Tue, Sep 17, 2024
Business Standard
Blue Dart Express Ltd leads gainers in 'A' group
Nava Ltd, Mrs Bectors Food Specialities Ltd, Reliance Infrastructure Ltd and Mahanagar Gas Ltd are among the other gainers in the BSE's 'A' group today, 17 September 2024.
Business Standard
Piramal Pharma receives SBTi validation for its GHG commitment
Piramal Pharma has embarked on its sustainability journey as the Science Based Targets initiative (SBTi) officially validated the company's near-term greenhouse gas (GHG) emission reduction targets. This validation aligns with Piramal Pharma's core purpose of 'Doing Well and Doing Good,' driving its business strategies and strengthening the company's commitment to making consistent, measurable progress toward a more sustainable future.
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Tue, Sep 17, 2024
CNBC TV18
IGL gets an upgrade from UBS, MGL a target raise on strong volume prospects
UBS expects an improvement in IGL's volume growth trajectory, while for Mahanagar Gas, the firm expects both organic and inorganic volume growth to continue surpassing expectations.
Business Standard
M&M eyes sub-3.5 tonne SCV market with Veero launch on multi-fuel platform
Priced at Rs 7.99 lakh for the entry-level product, M&M launched the diesel and CNG variants, and an electric version will come in the future
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Mon, Sep 16, 2024
Business Standard
EoI floated for Rs 13,000 cr coal gasification project by CIL-Gail JV
An Expression of Interest (EoI) for shortlisting licensors of coal gasification technology for a proposed coal-based synthetic natural gas (SNG) plant in West Bengal was floated by the GAIL and Coal India Limited (CIL) joint venture responsible for promoting the project, an official said on Monday. The project, valued at an estimated amount of Rs 13,052 crore, considering a debt-equity ratio of 70:30, was approved by the Cabinet, and coal for the plant will be supplied by CIL's subsidiary, Eastern Coalfields Ltd. Coal India will hold a 51 per cent stake in the JV, while GAIL will have a 49 per cent share. "The EoI, floated by Projects & Development India Limited (PDIL) on behalf of the JV, seeks responses from internationally reputed technology licensors with the requisite coal gasification technology, willing to provide it for the commercial production of SNG," the official told PTI. The document mentions, "The proposed JV of GAIL & CIL intends to set up an 80,000 NM3/hr ...
The Economic Times
EoI floated for coal gasification tech for Rs 13,000cr project by CIL-GAIL JV
GAIL and Coal India Limited have floated an Expression of Interest for shortlisting licensors of coal gasification technology for a proposed synthetic natural gas plant in West Bengal. The project, valued at Rs 13,052 crore, aims to use coal from Eastern Coalfields Ltd. The last date for EoI submission is October 15.
Business Standard
Mahindra expands LCV range with product based on multi-energy platform
Mahindra & Mahindra on Monday expanded its light commercial vehicle (LCV) range with a new product range based on an all new platform developed at an initial investment of Rs 900 crore. The company has introduced "Veero" light commercial vehicle in the less than 3.5 tonne range with both diesel and CNG trims, with price starting at Rs 7.99 lakh (ex-showroom). An electric version of the LCV would be introduced at a later stage. In an interaction with PTI, Mahindra & Mahindra (M&M) President Automotive Division Veejay Nakra said the model will help the company further strengthen its leadership in the LCV (less than 3.5 tonne) segment. The product, with multiple fuel options and payloads, will be useful for various applications, he added. "We have a market share of around 51 per cent in the less than 3.5 tonne LCV segment... now this range comes in 2-3.5 tonne segment where we have a market share of 63 per cent. So it will help us further strengthen market share beyond 63 per
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Mon, Sep 16, 2024
The Economic Times
Mahindra expands LCV range with product based on multi-energy platform
Mahindra & Mahindra has launched the Veero light commercial vehicle in the sub-3.5 tonne category, with diesel and CNG options starting at Rs 7.99 lakh. An electric version will follow. The new range aims to strengthen M&M's market leadership, addressing diverse business needs with multiple fuel options and payloads.
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Mon, Sep 16, 2024
Business Line
Mahindra unveils Veero: New LCV aims to disrupt sub-3.5 ton segment
The Veero offers multiple fuel options including diesel and CNG, with an electric variant planned for the future. It boasts a best-in-class payload capacity of 1,600 kg and claims superior fuel efficiency with 18.4 km/l for diesel and 19.2 km/kg for CNG variants
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Mon, Sep 16, 2024
Mint
Prabhudas Lilladher sees oil price rebound to $75-80/bbl, upgrades ONGC and OIL ratings to 'buy'
Prabhudas Lilladher upgraded ONGC and OIL amid a projected recovery in oil prices to $75-80 per barrel. They expect improved gas realization and production growth, with ONGC's oil production CAGR at 3.4 per cent and OINL's at 8 per cent through FY26.
Business Line
Natural Gas: Bullish. Go long now
MCX Natural Gas Futures contract can rise back to ₹210-₹215
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Mon, Sep 16, 2024
The Economic Times
Reliance Retail to transfer most of its FMCG brands to RCPL to scale up the business
Reliance Retail is set to transfer its FMCG brands, including Campa and various private labels, to Reliance Consumer Products Ltd (RCPL) for rapid business expansion. RCPL plans exclusive bottling plants for Campa and is preparing for a capital infusion of up to Rs 3,900 crore through equity and debt. This strategic move aims at enhancing brand availability.
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Sun, Sep 15, 2024
The Economic Times
Why energy efficiency should matter this World Ozone Day
As climate change accelerates, the need for efficient cooling systems becomes crucial. The Kigali Amendment aims to phase down harmful refrigerants and improve energy efficiency. This effort can significantly reduce greenhouse gas emissions and offer health benefits. Coordinated efforts across various stakeholders are essential to achieve these goals.
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Sun, Sep 15, 2024
Business Standard
ONGC gets director to spearhead new energy, petrochem business & strategy
Oil and Natural Gas Corporation (ONGC) has got a new director to spearhead its new energy, petrochemicals and corporate strategy as part of a board revamp aimed at breathing fresh life into the state-controlled behemoth. Arunangshu Sarkar has been appointed as Director for strategy and corporate affairs, ONGC said in a stock exchange filing. Before the elevation, Sarkar, a petroleum engineer from the Indian School of Mines, Dhanbad, was Group General Manager (Production) at ONGC. He had previously worked as General Manager (Strategy & Corporate Planning), ONGC Videsh Ltd - the overseas investment arm of ONGC. Two years back, the board of ONGC was reorganised. Besides creating the new post of Director (Strategy & Corporate Affairs), the post of Director (Production) was created after merging Director (Onshore), who is in charge of all oil and gas fields located on land, and Director (Offshore) who looks after all offshore assets, such as the prime Mumbai High fields. In ...
The Economic Times
Oil India to commence drilling in Andaman offshores as part of exploration efforts
Oil India Limited is set to begin drilling in Andaman and Nicobar offshore waters, aiming for stability in oil prices to aid exploration. The company saw significant growth in oil and gas production last year and plans to achieve ambitious targets while committing to Net Zero by 2040.
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Sun, Sep 15, 2024
The Economic Times
CNG, hybrid cars take expressway to drive past EVs
The Indian car market is seeing a rise in CNG and hybrid vehicles, outpacing electric cars. CNG car sales grew by 46% from January to August, while hybrids saw a 19% increase. Despite efforts to boost EV adoption, infrastructure challenges and high costs remain barriers.
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Sun, Sep 15, 2024
Business Standard
OIL to invest Rs 25,000 cr in clean energy for net zero emissions by 2040
State-owned Oil India Ltd plans to invest Rs 25,000 crore in clean energy projects to help achieve the net zero carbon emission goal by 2040, its chairman Ranjit Rath said on Saturday. OIL's net zero plan includes a combination of cutting down the flaring of gas and commercialisation of stranded gas as well as setting up renewable electricity generation capacity, building green hydrogen plants and constructing biogas and ethanol plants. The net zero plans will go alongside its target to raise crude oil and natural gas production to 9 million tonnes of oil and oil equivalent gas by 2025-26 from 6.5 million tonnes produced in the fiscal year ended March 31, 2024, he told reporters here. The company also plans to lay an 80-kilometer pipeline to bring natural gas from fields in Arunachal Pradesh to Assam to help replace polluting liquid fuels in transport as well as industries. "Achieving a net zero target involves a bouquet of activities," he said. It already has firmed up plans for