Page 7 - Cng

Natural gas prices hiked 40%; CNG, piped cooking gas to cost more

Prices of natural gas, which is used to generate electricity, make fertiliser and is converted into CNG to run automobiles, were on Friday hiked by a steep 40 per cent to record levels, in step with global firming up of energy rates. The rate paid for gas produced from old fields, which make up for about two-thirds of all gas produced in the country, was hiked to USD 8.57 per million British thermal units from the current USD 6.1, according to an order from the oil ministry's Petroleum Planning and Analysis Cell (PPAC). Simultaneously, the price of gas from difficult and newer fields like the ones in Reliance Industries Ltd and its partner bp plc operated deepsea D6 block in KG basin, was hiked to USD 12.6 per mmBtu from USD 9.92, the order said. These are the highest rates for administered/regulated fields (like ONGC's Bassein field off the Mumbai coast) and free-market areas (such as the KG basin). Also, this will be the third increase in rates since April 2019 and comes on the b

Automakers decrease production of CNG vehicles as natural gas prices rise

CNG automakers have reduced their production targets to 500,000-550,000 vehicles for FY23. At the beginning of the current financial year, this target was 700,000-750,000

PM to inaugurate world's first CNG terminal in Gujarat's Bhavnagar

A public-private partnership (PPP) model will be used to create the CNG terminal project, and Gujarat Maritime Board (GMB), which now oversees the Bhavnagar Port, would be a partner in the project

Strong demand to drive gains for stocks of city gas distributors

GAIL has come under pressure since it is not receiving contracted liquefied natural gas (LNG) cargoes and it is being forced to buy LNG at much higher prices

Govt working on linking vehicle tax with emissions, says official

In India, Electric Vehicles (EVs) attract a GST of 5 per cent, while hybrids attract a much higher 43 per cent

Mumbai taxi and auto drivers to go on an indefinite strike from Sep 15

Over 200,000 autorickshaw drivers and 48,000 taxi drivers are expected to join the indefinite strike

Crude oil output to go up substantially from next year: Petroleum Secy

Pankaj Jain's comments follows contracts signed by govt for 34 oil exploration blocks; minister Hardeep Singh Puri asserts energy crisis in Europe far worse than India

Deflating gas economy: Kirit Parikh has a tough task on hand as prices soar

As global prices soar, another committee to review gas pricing policies may find the going more challenging

Top Headlines: Roadmap to advance economy, 100 mn demat accounts, and more

The country's demat account tally topped the 100 million-mark for the first time, in August. Over 2.2 million new accounts were opened last month

Tata Motors rolls out India's first CNG-powered truck in M&HCV segment

The CNG models are powered by the 5.7-litre SGI engine generating peak power of 180hp and torque of 650Nm, come with a modular architecture and offer a range of up to 1,000 km

Blue Energy Motors unveils India's first LNG-fuelled green truck near Pune

Firm claims the engines generate high torque and help trucks deliver best-in-class total cost of ownership and offer unmatched ride comfort and safety for long hauls

Sensex surges 418 pts, ends above 60K; Bajaj twins, RIL top contributors

CLOSING BELL: Bajaj Finserv (up nearly 6 per cent), Bajaj Finance, HDFC Life, Hero MotoCorp, Hindalco, Tech M, Bharti Airtel, BPCL, and HCL Tech were the top large-cap gainers

Govt to divert gas from industries after CNG, piped gas prices jump 70%

The increased allocation will meet 94 per cent of the demand for CNG to automobiles and piped cooking gas to household kitchens in the country

Indraprastha Gas Ltd Q1 net profit up 72% on rise in sales volume

Net profit of Rs 420.86 crore in April-June compared with Rs 244.29 crore in the corresponding quarter of last fiscal, the company said in a statement.

DDA nod to proposal on EV charging at petrol pumps at lesser licence fee

The LG, who is also the chairperson of DDA, tweeted about the decision taken during the meeting, which was attended by the urban body's vice-chairman and other members.

Adani Group, RIL to set up biogas plants at Rs 500-600 cr investment each

Adani and Reliance Group are planning to set up 40-million tonne per annum (mtpa) plants in Uttar Pradesh and Gujarat, while Reliance Industries is still formalising the two locations

India's bet on gas-based economy runs into Ukraine war challenges

As the Ukraine-Russia conflict pushes up prices and Europe outbids South Asia for scarce supplies, billions of dollars in domestic gas infrastructure investment are at risk

Top Headlines: Rupee settlement plan, eating out to get pricier, and more

The share of developed market currencies in India's trade has only been going up in recent decades. The share is up around 30 percentage points since the early 1990s. Read more in our top headlines

India may face tech, logistical snags as it tries to explore CNG imports

The government's draft policy encouraging imports in compressed form over LNG ignores major technological and logistics hurdles

From Maruti Brezza to Kia Sonet: Five CNG SUVs set to hit Indian roads soon

Compressed natural gas is cheaper and more eco-friendly than petrol and diesel, and several top carmakers are now launching their popular models in CNG variants