Page 3 - Cng

Riding high: Bajaj Auto's CNG motorcycle races ahead with record sales

Registrations highest since Freedom 125 was launched in July this year

Lower APM gas allocation to raise city gas cost by Rs 2-3 per kg: CRISIL

The gas procurement cost of city gas distribution (CGD) companies is set to rise by Rs 2-3 per kilogram (kg) following a reduction in allocation of input natural gas under the administered price mechanism (APM), rating agency Crisil said Wednesday. City gas operators get priority gas allocation at reduced prices under APM from legacy gas fields for the domestic compressed natural gas (CNG) and piped natural gas (PNG) - domestic segments. As per recent public announcements by these companies, GAIL (India) Ltd, the nodal agency for domestic gas allocation in the country, has reduced the APM gas allocation for the CNG segment by 20 per cent of their CNG requirement, effective October 16, 2024. "To note, APM allocation for CGD players will now be reduced to about 50 per cent of their CNG requirement, from the allocation level of around 70 per cent this fiscal year so far," Crisil said in a note. So, to maintain adequate supply, the CGD players will need to procure gas from costlier ...

CNG price may go up Rs 4-6 on supply cut, excise duty reduction to ease

The government has slashed by up to 20 per cent the supplies of cheaper domestically produced natural gas to city retailers -- a move that may result in Rs 4-6 per kg hike in the price of CNG sold to automobiles, unless excise duty on the fuel is cut, sources said. Natural gas pumped from below the ground and from under the seabed from sites ranging from the Arabian Sea to Bay of Bengal within India is the raw material that is turned into CNG for sale to automobiles and piped cooking gas to households. Production from legacy fields, whose price is regulated by the government and which are used to feed city gas retailers, has been falling by up to 5 per cent annually due to natural decline that has set in. This has led to supply cuts to city gas retailers, four sources in know of the matter said. While the input gas for piped cooking gas that households get is protected, the government has cut supply of raw material for CNG. Gas from legacy fields used to meet 90 per cent of the dema

Gas distributors IGL, MGL likely to raise CNG prices following 20% APM cut

Mahanagar Gas and Indraprastha Gas may raise prices of compressed natural gas by up to Rs 6 per litre. Meanwhile, their shares plunged by up to 14 per cent in intraday trading on the BSE on Friday

PM Modi inaugurates gaushala with Bio CNG plant, launches projects in MP

Prime Minister Narendra Modi virtually inaugurated the 'Lal Tipara Gaushala' with Bio-CNG plant in Gwalior and launched various development projects of Rs 685 crore in Madhya Pradesh on the occasion of Swachhta Diwas on Wednesday. Swachhta Diwas is observed on the occasion of Gandhi Jayanti (October 2) every year. The 'gaushala', or cow shelter, with the Bio-CNG plant that can produce three tonnes of natural gas per day using 100 tonnes of cow dung, has been set up in collaboration with the Indian Oil Corporation (IOC), an official said. It is India's first modern and self-reliant gaushala, he said. The plant will also produce 20 tonnes of high-quality organic manure, the official said, adding the IOC will assist in the operation and maintenance of the plant. The gaushala was developed at a cost of Rs 32 crore from the corporate social responsibility fund of the IOC, and an additional one hectare of land has been reserved for its expansion, the official said. The prime minister a

Bihar govt announces reduction in value-added tax on CNG, PNG by 7.5%

The Bihar government on Tuesday announced a reduction in VAT on compressed natural gas (CNG) and piped natural gas (PNG), used for domestic purposes and motor vehicles, by 7.5 per cent - from 20 to 12.5 per cent - in the state. The government also announced the reduction of VAT on PNG, used by industrial units manufacturing goods, from 20 per cent to 5 per cent. The decision to this effect was taken in a Cabinet meeting chaired by Chief Minister Nitish Kumar here. Talking to reporters, soon after the cabinet meeting, S Siddharth, Additional Chief Secretary (ACS), Cabinet Secretariat, said, The state Cabinet approved reduction in VAT on CNG and PNG, used for domestic purposes and motor vehicles, from 20 per cent to 12.5 per cent in the state. Industrial and business organizations requested the state government to slash the VAT as it is higher than that in neighbouring states, he said. After consideration, the government decided to reduce it on natural gas sold through the city gas

Indian car buyers step on the gas: Pickup in CNG sales fastest in 2024

The rise in CNG sales even outstripped that of petrol hybrid, diesel hybrid, and electric cars

Maruti Suzuki targets to sell 600K CNG vehicles this fiscal: Official

Maruti Suzuki India is looking to sell around 6 lakh CNG vehicles in the current fiscal, an increase of around 25 per cent as compared to FY24, according to a senior company executive. The country's largest carmaker company on Wednesday expanded its CNG model range as it rolled out its premium hatchback Swift with S-CNG trims. "This fiscal we are targeting to sell around 6 lakh CNG units. We ended last year with sales of around 4.77 lakh units," Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Partho Banerjee told PTI in an interaction. In the April-August period this fiscal, the auto major has so far sold 2.21 lakh units, he added. The new Swift comes in three variants priced at Rs 8.19 lakh; Rs 8.46 lakh and Rs 9.19 lakh respectively. Banerjee said the S-CNG trims deliver a fuel-efficiency of 32.85 km/kg. "The company pioneered the production of CNG vehicles in India back in 2010. Since then, we have sold over 2 million S-CNG vehicles to date, contributing to

Substantial subsidies for electric vehicles are no longer required: Gadkari

At the BNEF Summit, Union Minister Nitin Gadkari highlighted the lower GST rates on electric vehicles compared to those on petrol and diesel vehicles

IGL wants to be leader in LNG space, says MD Kamal Kishore Chatiwal

Chatiwal talks about strengthening efforts to establish CNG to LNG conversion plants for servicing difficult terrains

Bajaj Auto receives 6,000 orders for its newly-launched CNG motorbike

Bajaj Freedom, a sports motorcycle with a 124 cubic capacity engine, was launched earlier this month with a starting price of Rs 95,000

IGL Q1 results: Net profit falls 8.6% to Rs 400 crore, revenue rises 3.4%

Total gas sale volumes rose 5.3% to 786 million standard cubic meters

After launch of Bajaj Freedom 125, TVS may roll out its own CNG bike

The CNG fuel option in the commuter segment offers a reduced fuel bill for the consumer

Bajaj Auto's CNG bike a bold move; customer adoption a concern: Analysts

Need to see whether two-wheeler customers are willing to shift to CNG now that a good product is in the market, they said

Bajaj Auto to unveil world's first CNG bike: What we know so far

Bajaj Auto is set to launch its latest motorbike with dual-fuel capability, which will run on both petrol and CNG, thereby cutting the running costs by half

CNG price in national capital, adjoining cities hiked by Re 1 per kg

CNG price in the national capital and adjoining cities was on Saturday hiked by Re 1/kg on the back of reduction in domestic gas supplies. CNG price was hiked from Rs 74.09 to Rs 75.09 per kg, while in Noida, Greater Noida and Ghaziabad the rate went up from Rs 78.70 to Rs 79.70 per kg, according to information posted by IGL on its website. Other city gas suppliers have not changed the prices yet.

IBA demands Rs 90/kg fixed rate for procurement of compressed biogas

Indian Biogas Association (IBA) is demanding a fixed rate of Rs 90 per kg for procurement of biogas by oil and gas marketing companies, from the government, citing environmental benefits and to boost the sector. The IBA will soon put up the suggestion about fixing the procurement price of the biogas, along with other recommendations, for boosting the sector before the newly appointed Union Minister of New and Renewable Energy Minister Pralhad Joshi. While the retail selling price of compressed biogas (CBG) is aligned with CNG (compressed natural gas), the procurement price is unfortunately linked to the retail selling price (RSP) of CNG, IBA Chairman Gaurav Kedia told PTI. Consequently, he said with CNG prices in New Delhi hovering at Rs 75-80 per kg, the procurement price of CBG by oil and gas marketing companies falls to Rs 59 per kg (excluding GST). "This pricing structure fails to recognise the inherent environmental value of CBG. Ideally, CBG should command a premium (of Rs ..

IGL Q4 result: Net profit up 16% at Rs 382 cr, turnover dips to Rs 3,949 cr

Indraprastha Gas Ltd, India's largest CNG retailer, on Tuesday reported a 16 per cent rise in March quarter net profit as it sold more gas. The net profit of Rs 382.80 crore in the latest January-March quarter was compared to Rs 329.75 crore profit registered a year ago, the company said in a statement. For the full 2023-24 fiscal (April 2023 to March 2024), net profit soared 21 per cent to Rs 1,748.08 crore as against Rs 1,445.02 crore in the previous year. Turnover slipped marginally to Rs 3,949.17 crore in January-March from Rs 4,042.57 crore in the corresponding quarter of 2022-23. The gross turnover during the financial year 2023-24 was Rs 15,403.13 crore as compared to Rs 15,543.67 crore in the preceding financial year 2022-23 primarily due to cooling off of international gas prices despite increase in sales volume. "The sales volume in the quarter increased from 8.25 million standard cubic metres per day in Q4 of 2022-23 to 8.73 mmscmd in Q4 of FY'24, showing a volume growt

Adani Total Gas Q4 results: Profit rises 59% to Rs 165 cr, revenue up at 5%

Adani Total Gas Ltd, the city gas retailing joint venture of Adani group and TotalEnergies of France, on Tuesday reported a 59 per cent rise in March quarter net profit on the back of a surge in CNG sales volumes. The company posted a net profit of Rs 165 crore in the January-March period as against Rs 104 crore in the same period a year back, the company said in a statement. The firm, which retails CNG to automobiles and pipes natural gas to household kitchen for cooking purpose, saw a revenue increase of 5 per cent to Rs 1,257 crore while EBITDA surged 49 per cent to Rs 305 crore the quarter. CNG sales rose 20 per cent to 149 million standard cubic metres and piped natural gas sales were up 15 per cent to 83 mmscm. For the full fiscal year, the company reported a net profit of Rs 653 crore on a revenue of Rs 4,813 crore. This compared with Rs 530 crore net profit on a revenue of Rs 4,683 crore in 2022-23. ATGL said it added 91 new CNG stations to take the strength to 547 across

EV adoption may pose threat to CNG firms dominance in India: Report

Chinese city gas distribution companies have slowed down as the country shifts to electric mobility, said the Prabhudas Lilladher report