Fourth-quarter performance was better than September’s as international gas prices eased from $50/MMBtu to $20-25/MMBtu. However, the shortage of APM gas continued in the quarter
Besides the shortfall in the allocation, the prices of APM gas for CNG and PNG have been revised from USD 2.90 per million British thermal unit to USD 6.10, an increase of 110 per cent.
This is the second increase in the prices of CNG and PNG in the month of April.
The company said it had an existing commitment to invest Rs 8,000 crore, to which another Rs 12,000 crore would be added to develop the 14 new geographical areas (GAs) it bagged recently in the 11th round of bidding by the Petroleum and Natural Gas Regulatory Board (PNGRB).
With the price revision, the rate of CNG is now Rs 63.50 per kg while piped gas now costs Rs 38 per unit
The decision to shut down such industrial units was taken in view of the 'very poor' to 'severe' air quality prevailing in Delhi-NCR, the panel said, adding that they will not be permitted to resume their operations till at least December 12.
Given the massive increase in supply side cost, the company is constrained to increase the base price of CNG by Rs 20/kg and domestic PNG by Rs 2/SCM in and around Mumbai, MGL said in a statement.
The commission has asked these states to audit and inspect the industries, which are already connected to PNG supply, and ensure that these units are not using any other polluting fuels like coal etc.
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The Commission for Air Quality Management in NCR and Adjoining Areas reviewed the progress of switching over of industries operating in Delhi to PNG during a meeting, which was attended by representatives of the city government, the GAIL and the Indraprastha Gas Limited (IGL).
The firm which retails CNG to automobiles in some districts of Haryana, Gujarat, Rajasthan, Madhya Pradesh, and Uttar Pradesh, cut CNG rates between Rs 1.5 per kg to Rs 3.6 per kg while the rate of natural gas piped to household kitchens for cooking purposes has been cut by Re 1 per standard cubic meter (scm),the company said in a statement.
The price of CNG will be revised to Rs 51.99/kg in Mumbai and surrounding areas
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This hike would have a 'marginal' impact of Rs 0.10 per km and Rs 0.13 per km on the running costs of autorickshaws and taxis, respectively, according to MGL
IGL currently sells compressed natural gas (CNG) and piped natural gas (PNG) in the national capital and adjoining cities of Ghaziabad, Noida and Greater Noida.
Natural gas price was today cut marginally to USD 2.48 per million British thermal unit, the fifth reduction in two years.
Accordingly, revised prices of CNG and domestic PNG will be Rs 39.97/kg and Rs 23.92 per standard cubic meter (SCM) respectively in the megapolis.
"Trading members of the exchange are hereby informed that effective from Friday, July 1, 2016, the equity shares of Mahanagar Gas Limited shall be listed and admitted to dealings on the exchange in the list of 'B' group of securities," BSE said in a notice today.
During the period, EBIDTA may be at Rs 201.2 crore compared to Rs 175.8 crore while EBIDTA margin may stand at 21.1 percent versus 19.2 percent year-on-year.
The domestic gas price cut will make CNG 44-45% more competitive than diesel, compared with 39% currently, while PNG would become 1-2% more competitive than subsidised LPG, compared with a negative 8% currently
The company has came out of trade-to-trade segment today.
This was stated by IGL Chairman M Ravindran while addressing the shareholders at the 16th Annual General Meeting of the company.
After petrol and diesel, CNG and piped cooking gas prices were hiked by 45 paisa per unit in the national capital region with effect from midnight tonight.
Presently, urea manufacturing fertiliser plants have the first right over the domestically produced gas, followed by liquefied petroleum gas (LPG) plants and power stations.
"Inspite of revision in domestic gas prices announced by the government with effect from November 1, 2014, IGL has decided not to revise the retail price of CNG and domestic PNG in the interest of its consumers in Delhi, Noida, Greater Noida and Ghaziabad," said Narendra Kumar, Managing Director, IGL