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First by an Indian PSU: GAIL scouting for 26% stake in US-based LNG project

Is open to either an existing plant or one scheduled to be commissioned by 2026-27; also wants to source one mtpa of gas the LNG liquefaction plant/project on FOB basis for 15 years

GAIL plans to buy up to 26% equity stake in LNG projects in United States

GAIL had run into supply disruptions last year after Russia-owned Gazprom Marketing and Trading (GMTS) failed to deliver some LNG cargoes

Stocks to watch: Adani Enterprises, ONGC, Nykaa, IRB Infra, Castrol India

Stocks to watch today: Adani Enterprises, ONGC, Coal India, Siemens, Grasim Industries, Eicher Motors, among others will report the October-December (Q3FY23) quarter results

Centre planning to introduce measures to bring down fertiliser subsidy

Centre's focus is to bring down the cost of gas which is a key component for production of urea. Information from official sources indicated that bids, some of which stood at more than $30

Govt made Rs 31,106 cr in FY23 through disinvestment, reports DIPAM

The sale of 3.5 per cent of its stake in the LIC through an IPO brought the govt Rs 20,516.12 crore as receipts

GAIL signs advance pricing agreement with CBDT; first oil, gas PSU to do so

GAIL is the first public sector undertaking in oil & gas sector in India to successfully sign the APA

Stocks to Watch: LIC, Zomato, Adani group, Varun Beverages, Voltas, M&M

Stocks to Watch: As per reports, MSCI on Thursday evening said it had cut its determined free float for four companies in the Adani Group: Adani Enterprises, Adani Total Gas, Adani Transmission & ACC

GAIL's prospects on the mend after poor Oct-Dec quarter showing

Most analysts have cut their Q4 and FY24 estimates but maintain 'buy' recommendations with price targets between Rs 115-Rs 125

GAIL Q3 net falls 92% to Rs 246 cr on higher prices, Russian gas disruption

Despite the hit to profits, revenue from operations rose to a record Rs. 1.11 trillion in the first nine months of FY23

GAIL Q3 profit drops 90% on petrochemical, natural gas marketing woes

State gas utility GAIL (India) Ltd on Monday reported 90 per cent drop in December quarter net profit after it suffered losses in petrochemical and natural gas marketing business. Consolidated net profit of Rs 397.59 crore in October-December 2022 is compared with Rs 3,800.09 crore earning in the same period a year back, according to the company's stock exchange filing. The nation's largest gas trading and transportation company booked Rs 349 crore loss in petrochemical business after it had to cut run rate due to curtailment in supply of cheaper domestic gas. Natural gas marketing division too incurred a loss while the pre-tax profitability of the core transmission business halved. Revenue from operations rose to Rs 35,939.96 crore in October-December 2022 from Rs 26,175.60 crore a year ago.

GAIL India seeks two LNG cargoes for February delivery, says report

GAIL is seeking the cargoes for delivery during the month of February on a delivered ex-ship (DES) basis into the country's Dabhol terminal

Top Headlines: PM Modi cautions against Covid, GAIL's LNG hunt, and more

Business Standard brings you the top headlines at this hour

Russia's Gazprom turns off tap, GAIL's hunt for LNG may continue for a year

Its petrochem plant in UP running at 40% utilisation

Peaking gas and power units to run under special scheme next summer

Move aimed at handling peak demand, NTPC-GAIL to ink pact, PowerMin to fund the scheme

Cummins, Tecnimont to provide tech support to GAIL for MP gas company

Global power solutions provider Cummins in collaboration with Tecnimont will help GAIL in setting up a proton exchange membrane electrolyzer for the public sector natural gas company at Vijaipur in Madhya Pradesh, a release said on Wednesday. The facility, said to be one of India largest, is expected to produce 4.3 tonnes of green hydrogen per day, which will be equivalent to around 10 MW of electrical power generation, it said. Tecnimont Private Limited (TCMPL), an engineering, procurement and construction firm, is the Indian subsidiary of Maire Tecnimont Group. Cummins said it will leverage its proprietary PEM electrolysis technology for the GAIL project. "The GAIL green hydrogen production project based on our PEM electrolyzer technology is a first of its kind and will pave the way for many such projects in the future," said Ashwath Ram, Managing Director at Cummins India. Cummins said it has supplied and commissioned more than 600 electrolyzers worldwide with PEM and alkaline

Top headlines: New export clearence system, earthquake in Nepal, and more

Business Standard brings you the top headlines this hour

India's gas reliance grows as Europe cuts down on energy consumption

India's demand for the fuel has slumped 5 per cent in the April-September period of FY23 to 31.5 billion cubic metres from a year ago, after rising 5 per cent 2021-22

GAIL Q2 net profit down 46% on higher prices, Russian gas disruption

In an emergency bid to secure stable LNG supply, GAIL has sought to expedite talks on short- and long-term supply deals with Gulf firm ADNOC

GAIL Q2 net falls 46% as Russian gas supply snag hurts petchem business

State-owned gas utility GAIL (India) Ltd on Thursday reported a 46 per cent drop in its September quarter net profit as it slashed petrochemical output after a former unit of Russian energy giant Gazprom stopped gas supplies. Net profit stood at Rs 1,537.07 crore in July-September compared with Rs 2,862.95 crore profit in the same period a year back, according to a stock exchange filing of the company. The profit for the firm that transports and sells natural gas to users like fertiliser plants and CNG retailers was sequentially down 47.2 per cent from Rs 2,915.19 crore profit in the April-June quarter. GAIL's mainstay natural gas marketing business saw revenues doubled but profitability declined 66 per cent as higher gas prices, resulting from a global surge in energy rates following Russia's invasion of Ukraine, hurt margins. It posted a pre-tax loss of Rs 346.22 crore in the petrochemical business in Q2 as compared to a pre-tax profit of Rs 363.29 crore a year back and Rs 35.16

Emergency bid: GAIL inks agreement with ADNOC to secure LNG supply

Officials said the agreement represents a reworking of India's gas sourcing strategy as the country aims to aggressively source LNG from a wider list of nations