Gspc

Domestic demand is expected to remain good, going forward, supported by favourable LNG and CNG prices compared to auto fuel price

Gujarat PSUs to unlock value through amalgamation

One of the biggest advantages of the amalgamation is that Gujarat Gas will be able to utilise the Rs 7,200 crore in carry-forward losses from GSPC. This tax benefit from absorbing the losses is expected to result in a significant profit boost for the merged entity.

India's GSPC seeks LNG cargoes for March to November delivery: Sources

It is seeking one cargo for delivery over March 23 to 31 on a delivered ex-ship (DES) basis, in a tender that closed on March 3 and valid until March 4, they said.

GSPC seeks LNG cargo for March delivery: Sources

The cargo is for delivery into the Dahej or Hazira import terminals over March 20 to 30, one of the sources said.

Petronet restructures gas supply contract with Qatar's RasGas

Petronet will now continue to provide the storage, receiving and re-gasification services for the above-mentioned contract but will not be the buyer of LNG.

Gujarat State Petronet to buy 28.4% stake in Gujarat Gas, funding via debt

Gujarat State Petronet Ltd, the Natural gas transmission company is slated to buy 28.4% stake in Gujarat Gas from Gujarat State Petroleum Corporation.

ONGC wins Govt nod for Rs 7,738 crore GSPC stake purchase

ONGC had in December last year agreed to buy entire 80 percent interest of GSPC along with operatorship rights, in Deen Dayal West (DDW) gas field.

Petronet in talks to buy stake in GSPC's Mundra LNG terminal

The 5-million tonne a year import terminal, the third facility in Gujarat for import of natural gas in its liquid form in ships, is nearing completion and GSPC is keen to shed some of its stake to lighten its debt burden.

ONGC board approves pact to acquire GSPC stake for USD1.2 bn

The Board of state-owned ONGC has approved signing of definitive agreements for buying debt- laden GSPC's entire 80 per cent stake in KG-basin natural gas block for USD 1.2 billion.

GSPC looks at financial restructuring post ONGC deal

The Gujarat government firm, which is saddled with nearly Rs 20,000 crore of debt, has a large gas trading business, gas transmission pipelines and city gas business.

Jairam Ramesh seeks Sebi probe into ONGC's GSPC stake buy

In an open letter to Sebi Chairman U K Sinha, he said as per Oil and Natural Gas Corp's (ONGC) own admission, it and GSPC are related parties of the Government of India.

Despite GSPC buyout, ONGC financials strong enough, says S&P

Given the continuing upward trend in global crude oil prices should help the national explorer ONGC to maintain its credit profile despite the recent leveraged buyout of Gujarat State Petroleum's oil blocks for USD 1.2 billion, says a report.

ONGC to pay over USD1.2 bn for GSPC stake buy

State-run ONGC will pay over USD 1.2 billion for buying debt-laden GSPC's entire 80 per cent stake in KG-basin natural gas block, which is struggling to start commercial production despite trial outputs starting nearly two-and-half years back.

Exxon Mobil, BP, RIL likely to skip oilfield auction

Global energy giants Exxon Mobil, Chevron and BP plc as well as domestic players like Reliance Industries are unlikely to bid in the auction of 46 discovered small oil and gas fields that closes on Monday.

ONGC under pressure to take over GSPC: U'khand govt

Accusing the Centre of mounting pressure on ONGC to take over loss-making Gujarat State Petroleum Corporation (GSPC), the Uttarakhand government today opposed the move saying it will reduce the country's leading oil and natural gas company to a loss-making undertaking.

ONGC Board approves pact to take stake in GSPC gas block

The Board of state-owned ONGC has approved signing of a preliminary agreement for buying a stake in Gujarat government firm GSPC's KG basin gas block.

ONGC, GSPC in 'commercial discussions' on KG block: Pradhan

Rejecting Congress' charge of an attempt being made to "palm off" GSPC's failed gas fields to ONGC, Oil Minister Dharmendra Pradhan on June 3 said his "best wishes" are with the two firms if they are able to strike a commercial deal keeping their interest in mind

Hydrofracturing at KG block to yield up to 50 MMSCFD gas: GSPC

"GSPC has carried out four stages of HF successfully in one of the wells....After clean-up, the well is likely to be put under production in the first week of May 2016," the company said in a press release.

GSPC should be cautious in venturing into exploration: CAG

It spent Rs 1,757.46 crore on 10 surrendered overseas blocks, of which Rs 1,734.12 crore were eventually written off. Of the 11 overseas blocks held as of 2011, 10 were surrendered by 2015, the report said.

Cabinet to mull amendment to MMDR Act, R-series oil field: Srcs

In the Cabinet Meet, slated for Thursday, the government could consider an amendment to the Mines and Minerals (Development and Regulation) Act, 2015 (MMDR) that regulates mining sector activities in the country.

RIL, ONGC, GSPC to benefit from 60% gas price hike: RS Sharma

RS Sharma, Former Chairman of ONGC, says the government will hike the gas prices by 60 percent only for the oil fields already discovered but where production has not started yet.

Talks with Kuwait's PIC remain inconclusive: ONGC

State-owned Oil and Natural Gas Corp on Thursday said the talks to sell stake in long-delayed mega petrochemical plant at Dahej in Gujarat to Kuwait's Petrochemical Industries Company (PIC) remain inconclusive.

Bids for subsidy by gas power projects postponed by 1 day

Gas-based power stations that are either shut for want of fuel or receiving some domestically produced gas and running at sub-optimal levels are eligible for government subsidy to help them buy costly imported liquefied natural gas (LNG).

Lower gas price positive for all stakeholders: Gail CMD

Prices of natural gas will be cut by 7.6 percent to USD 5.18/mmBtu from April 1.

Gas prices may jump to $10 in 2016-17, from $4.2 now

The government has decided to price all domestically produced gas by both public and private sector firms at an average price of LNG imports into India and benchmark global gas rates from April 1, 2014.