Post exit of Shell and Engie (previously known as GDF Suez), state-owned gas utility GAIL India Ltd is negotiating with Andhra Pradesh government on possible structure of the project, GAIL Chairman and Managing Director B C Tripathi said.
The higher Asian refining margins have beat back concerns that profits would fall as crude oil prices gained as the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers began to implement their agreed production cuts from January to reduce global oversupply.
The aggregated production of 109 listed companies that produce more than a third of the world's oil fell in the third quarter of 2016 by 838,000 barrels per day from a year earlier to 33.88 million bpd, data provided by Morgan Stanley showed.
Net income in the quarter, based on a current cost of supplies (CCS) and excluding exceptional items, rose to USD 2.8 billion, which the company said compared with analysts' expectations of USD 1.71 billion.
The nation currently has capacity to import 21 million tonnes per annum of super-cooled gas (liquefied natural gas or LNG) in ships. This liquid gas is turned back into gaseous state, called regassification, before being supplied to customers like power plants.
Petronas, as the company is known, said in a statement on Saturday that it "categorically denied" the Reuters report on Friday that the company is considering the stake sale.
Shukla said, "Since the commissioning of Hazira LNG in 2005, the terminal has rapidly expanded from an initial regasification capacity of 2 million tonnes per annum (mtpa) to 3 mtpa in 2008 and then further to 5 mtpa in 2013".
Shell India opened a petrol pump in Uttarahalli area of Bengaluru, taking its operational fuel stations in India to 83, of which 30 are in Karnataka, the company said in a statement.
Rajeev Mathur, the MD of Mahanagar Gas expects the volume growth to be around 7-8 percent in the current fiscal.
Royal Dutch Shell will cut a further 2,200 jobs, taking its target for layoffs to 12,500 by the end of the year, the Anglo-Dutch oil firm said on Wednesday, as it cuts deeper in the face of weak oil prices.
Nitin Prasad is currently the cluster general manager for lubricants sales and marketing for India, Sri Lanka and Bangladesh. He will take charge from October 1, the company said in a statement.
In its first earnings results since its February 15 USD 54 billion acquisition of BG Group, the Anglo-Dutch company reported current cost of supplies (CCS) earnings excluding identified items, the company's definition of net income, of USD 1.55 billion, compared with analysts' expectations of USD 1.04 billion.
Shell is reducing investment, cutting nearly 10,000 jobs and selling assets to cope with the downturn.
BG shareholders are also expected to approve one of the biggest deals in the energy sector in the past decade at a meeting on Thursday, a vote that would allow the two oil and gas companies to merge on February 15.
The combination will transform Shell into the world's top liquefied natural gas (LNG) trader and a major offshore oil producer focused on Brazil's rapidly-developing sub-salt oil basin that would rival Exxon Mobil's position as the world‘s biggest international oil company.
"BG Group plc confirms that the recommended cash and share offer for the company to be made by Royal Dutch Shell has received unconditional merger clearance from the Australian Competition and Consumer Commission," a BG statement said.
The Anglo-Dutch energy giant said in a statement that its Burger J well in the Chukchi Sea, off the northwest coast of Alaska, did not warrant further exploration, adding it would now stop its activities in Alaskan waters.
A decision on the Mangalore site, which has total capacity of around 11 million barrels of oil, depends on Shell winning relief from local sales tax, the sources said, while commissioning has been pushed back by two months to December.
The European Commission said the transaction would not grant Shell market power in oil and gas exploration, the liquefaction of gas and the wholesale supply of liquefied natural gas (LNG).
Shell owns 50 percent of Parque das Conchas, its main Brazilian asset. Qatar's state oil company Qatar Petroleum owns 23 percent and India's ONGC owns 27 percent.
The Anglo-Dutch company also said it was planning more asset disposals as it pushes ahead with its proposed USD 70 billion acquisition of BG Group, bringing total asset sales between 2014 and 2018 to USD 50 billion.
BG Group Plc on Friday confirmed that it has received final unconditional clearance from Brazilian competition authority CADE for its acquisition by bigger rival Royal Dutch Shell.
Out of the two million tonnes of LNG, one million tonne has been sold to Royal Dutch Shell. Tripathi refused to give details of other buyers.
Oil dropped on Tuesday after Iran and six global powers reached a landmark nuclear deal that would see an easing of sanctions against Tehran and a gradual increase in its oil exports.
US-based private equity firm Carlyle Group on Monday said it will invest USD 500 million in Magna Energy Ltd, an India-focused oil firm founded by Mike Watts, the man who saw oil in Rajasthan's Thar desert where global giant Royal Dutch Shell saw none.