Gas Supplies

Valuation comfort emerges for gas firms despite demand, margin risks

Gas demand dipped in August, but upcoming LNG supply, policy targets and steady CNG growth support long-term outlook as stock valuations turn more attractive

Govt to release 25 lakh new LPG connections under Ujjwala in FY26

The petroleum ministry has approved 25 lakh new LPG connections under Ujjwala for FY26, taking the total to 10.58 crore, with Rs 676 crore earmarked for connections and subsidies

Motilal Oswal bullish on Ellenbarrie; initiates with Buy, flags 31% upside

Financially, Ellenbarrie has delivered stellar growth in recent years. Between FY23 and FY25, revenue rose at a 23% CAGR, Ebitda expanded at an 81% CAGR, and PAT grew at a 71% CAGR.

PNGRB updates key regulatory policy norms for transporting natural gas

Announces two national tariff zones, new reserve fund to develop pipelines

GAIL discharges first LNG vessel at Dabhol Terminal in monsoon season

Located on the Maharashtra coastline, the Dabhol LNG Terminal plays a vital role in India's gas infrastructure

PM Modi lays foundation stone for ₹1,010 cr City Gas Project in Bengal

The project will provide piped gas to over 250,000 homes and boost clean energy access in Alipurduar and Cooch Behar of West Bengal

Adani Total Gas Q4FY25: Net profit declines 7.9% to ₹154.59 crore

During the same period, the city gas distributor's revenue from operations rose 15.4 per cent to ₹1,453.37 crore, because of higher volume and sales realisation

ONGC's cheaper APM gas supply dips, costlier supply to distributors doubles

India's top oil and gas producer ONGC has seen a drop in natural gas production from aging fields that supply CNG and piped cooking gas, resulting in supply reductions for city gas distributors like IGL, MGL, and Adani-Total, officials said. Oil and Natural Gas Corporation (ONGC) is offsetting the natural decline in output from ageing gas fields by drilling new wells. However, gas from these new wells is sold at a higher price to cover the added costs, officials said. Natural gas extracted from the ground and seabed is converted into CNG for vehicles and used as cooking fuel when piped to households. Gas from fields allocated to ONGC on a nomination basis is priced by the government and referred to as APM gas. This APM gas serves as the feedstock for city gas distributors. APM gas is priced at 10 per cent of the monthly average rate of the crude oil basket India imports for its energy needs. However, the price is capped with a floor of USD 4 per million British thermal units and a .

Govt partially restores gas supply to retailers including IGL, Adani Total

The government has increased cheaper gas supply to city gas retailers IGL, Adani-Total, and Mahanagar Gas, restoring a major part of the allocation that was cut in 2024, according to regulatory filings by the companies. The government, in October and November last year, had cut supplies of the so-called APM Gas (low-priced natural gas coming from old fields such as Mumbai High and Bassein fields in the Bay of Bengal) to city gas retailers by as much as 40 per cent in view of limited output. This led to city gas retailers hiking CNG prices by Rs 2-3 per kg and planning more increases as they replaced lost volumes with higher-priced input fuel. The price hike made CNG less attractive when compared to alternate fuels like diesel. Following this, the Ministry of Petroleum and Natural Gas in a December 31, 2024 order rejigged some allocations of gas produced from below ground and undersea. The ministry ordered a cut in gas supplied to state-owned GAIL and Oil and Natural Gas Corporatio

Russian energy giant Gazprom suspends gas flow to Europe through Ukraine

Gazprom has cited the non-renewal of agreement, which expired on January 1, as the reason for suspension

Serbian prez thanks Putin for gas supplies, vows to never impose sanctions

European Union candidate Serbia will continue to refuse to impose sanctions against Russia over its invasion of Ukraine despite Western pressure, Serbia's leader said after his telephone conversation with Russian President Vladimir Putin on Sunday. Populist Serbian President Aleksandar Vucic said on Instagram that he believes the call, what he said was his first in more than two years with the Russian president, will help further development of relations and trust between Russia and Serbia. We talked as people who have known each other for a long time, as friends, and the ten-minute conversation was marked by a personal note, and we also talked about those who are weak (pro-Western) leaders, Vucic said. Vucic quoted Putin as saying what is good for Serbia is also good for Russia, what is good for the Serbs is also good for the Russians. Vucic did not say whether he would accept an earlier invitation by Putin to attend a BRICS summit of emerging economies, led by Russia and China, i

Gail Q1FY25 results: PAT jumps 77.5% to Rs 3,183.35 cr on high gas margin

Higher domestic natural gas marketing volumes pull up revenue to Rs 34,822 crore

Govt headhunter interviews eight people for HPCL top post; rejects them all

The government headhunter PESB has rejected all candidates it interviewed for the top job at Hindustan Petroleum Corporation Ltd (HPCL), the third instance in as many years that the board has not found any suitable candidate for the role in a state oil firm. The Public Enterprises Selection Board (PESB) on June 14 interviewed eight candidates, including a director on the HPCL board and managing director of Indraprastha Gas Ltd (IGL), but rejected them all. "The Board did not recommend any candidate for the post of chairman and managing director (CMD) HPCL and advised the Ministry of Petroleum & Natural Gas to choose an appropriate course of further action for selection, including the Search-Cum-Selection Committee (SCSC) or as deemed appropriate with the approval of the competent authority," the PESB panel said in a notification. The HPCL CMD post will fall vacant on September 1, 2024, when the incumbent Pushp Kumar Joshi retires on attaining a superannuation age of 60 years. The .

ONGC seeks technical help to raise oil, gas output at Mumbai High field

State-owned Oil and Natural Gas Corporation (ONGC) is seeking help from an internationally-proven technical service provider to raise oil and gas production from its flagship but old and maturing Mumbai field in the Arabian Sea. The firm has floated an international tender to identify the service provider who will help raise production from the field, ONGC said in a post on X. "The giant multi-layered Mumbai High field, which commenced production 48 years ago in 1976, is currently in its mature stage of production and ONGC has implemented a number of schemes in this field to improve production," it said. "As a custodian and operator of Mumbai High field, ONGC is keen to collaborate with a global technical service provider. The service provider would be contracted for 10 years, extendable by another five years." Mumbai High field lies 160 kilometres off the coast of Mumbai and produces about 38 per cent of India's oil production. While it hit a peak output of 40,000 barrels per day

Gail Q4 results: Consolidated net profit jumps 2.8-times to Rs 2,469 crore

Latest rise was due to low base in Q4 FY23 as a result of supply disruptions

Monthly natural gas trades down 80% in March: Indian Gas Exchange

Increasing global gas prices, and an extended winter in March led to the sudden fall

IndianOil, Adani Gas JV to invest $300 million to double gas sales

The joint venture aims to double gas sales in four years and strengthen infrastructure to more than 600 retail outlets during the period to meet India's rising gas demand, Jha added

Gail Q3 results: Consolidated net profit jumps 700% to Rs 3,193 cr

The latest rise was due to lower purchase of stock in trade, higher gas trading margins

Haryana govt set to introduce comprehensive city gas distribution policy

For the installation of CNG stations, storage facilities, pumping stations, etc., the licensee will need to independently obtain NOCs or permissions from the appropriate

GAIL Q2 results: Consolidated net profit jumps 87% to Rs 2,442 crore

In Q2 FY24, the company's consolidated revenue from operations fell 14.6 per cent to Rs 33,049 crore from Rs 38,728 crore in the year-ago period